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FinancialNews
31-01-17
Saudi Aramco pumps USD5bn in renewable energy firms
(MENAFN) Saudi Aramco, the globe's major oil firm, will issue USD5bn of investments in renewable energy firms to spread from crude production.
Furthermore, the energy firm is aiming to bring foreign expertise in renewable energy into the kingdom, while the first investments under the plan could occur this year.
The kingdom is planning to generate 10 gigawatts of power from renewable energy sources involving solar, wind and nuclear by 2023.
In addition, the kingdom also plans to develop a renewable energy research and manufacturing industry as part of an economic transformation plan.
MENAFN3101201700450000ID1095226908
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