Oil Giant to Invest in Renewable Energies Project
Saudi Arabia intends to host the world’s largest solar project. “It’s a huge step in human history,” says Saudi Crown Prince Mohammed Bin Salman. “It’s bold, risky and we hope we succeed in doing that.”
Solar power is a logical choice for the country. Its capital, Riyadh, averages 8.9 hours of sunshine a day. The nation is also projected to be severely impacted if climate change raises global temperatures 1.5 degrees Celsius above pre-industrial levels. According to Climate Action Tracker, if the global temperature rises 3 to 4 degrees Celsius, 75 percent of the country would be excessively arid by the end of the century.
According to the most recent data available from the U.S. Energy Information Administration, Saudi Arabia produces 13 percent of the world’s oil and currently obtains 60 percent of its electric energy from petroleum.