OPEC’ member Saudi Arabia is planning to execute 10 new renewable energy projects as part of a strategy to boost reliance on solar and wind power and slash oil use in electricity generation, newspapers said on Sunday.
The world’s largest oil exporter approved the 10 projects in its 2023 budget which it announced this week with a surplus for the first time in many years. “The 2023 budget includes the development of 10 renewable energy projects with a total output capacity of 7 gigawatts,” Almadina and other Saudi dailies said.
The Kingdom, which controls the world’s second extractable oil deposits after Venezuela, has also set a target to cut diesel consumption in power generation by more than 5,000 barrels per day, the report added.
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