Saudi Arabia will begin seeking bids next week from renewable-energy companies to build wind and solar plants with a combined capacity of 700 megawatts as part of the kingdom's USD 50 billion program to boost power generation and cut its oil consumption.
Energy Minister Khalid Al Falih will announce a request for proposals for the projects, the next phase in the country's bidding process, at a conference next week in Riyadh, the ministry said Monday in an emailed statement. The ministry qualified 27 companies to bid for a 300-megawatt solar plant and 24 firms for a 400-megawatt wind farm.
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