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International Business: Saudi promises stable oil supply to Japan

Even in Saudi Arabia, Renewable Power Is Cheaper Than Fossil Fuels

Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels

Saudi Arabia has signed deals to purchase electricity from two large-scale wind farms at record-low prices, cheaper than natural gas plants. The kingdom aims to shift rapidly to a larger share of renewables in the power grid, with the goal of generating half of its power from clean sources by 2030. The projects, developed by Japan s Marubeni Corp, benefit from state backing and favorable wind conditions in the country, making them more cost-effective than fossil fuel alternatives. The country s move towards renewable energy is part of Crown Prince Mohammed Bin Salman s efforts to diversify the economy away from oil dependence.

Saudi Arabia's SPPC signs PPA for 1.1GW wind farms

SPPC has finalised two power purchase agreements (PPAs) with a consortium led by Marubeni for two wind farms with a capacity of 1.1GW.

Saudi Crown Prince promises stable oil supply to Japan | The Asahi Shimbun: Breaking News, Japan News and Analysis

Saudi Arabian Crown Prince Mohammed bin Salman promised stable oil supplies to Japan in a video conference with Prime Minister Fumio Kishida on Tuesday, the Japanese Foreign Ministry said in a media release.