Saudis Seek Up to $50 Billion for Renewables Plan Saudi Arabia will start soliciting bids in the next few weeks for the first phase of a “massive” renewable-energy program costing $30 billion to $50 billion, Energy Minister Khalid Al-Falih said. OPEC’s biggest producer plans to generate close to 10 gigawatts from renewables, primarily solar and wind power, by 2023, he said at an energy conference in Abu Dhabi. The first tender may be for 700 megawatts of capacity at a cost of about $700 million, according to Roberto de Diego Arozamena, chief executive officer of Saudi power developer Abdul Latif Jameel Energy, which plans to bid for the contract. Saudi Arabia plans by 2030 to produce 70 percent of its power from natural gas and 30 percent from renewables and other sources, Al-Falih said Monday. He didn’t say how much renewables […]