ACWA CEO: Saudi Arabia Will Invest $100s of Billions for Power by 2030

Saudi Arabia will need to invest hundreds of billions of dollars this decade on renewable energy and natural gas-fired electricity to meet its generation capacity targets, according to the head of Riyadh-based ACWA Power Co. The project will require building 60 to 80 gigawatts of power plants using renewable sources like wind and solar and about 30 GW of gas-fired plants. Chief Executive Officer Marco Arcelli speaks to Bloomberg's Yousef Gamal El-Din on "Bloomberg Daybreak: Europe" at the Future Investment Initiative conference in Riyadh, Saudi Arabia.
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[@cwaddle]

Bbg opens up to ask why go to china given their hostility to foreign investors 😂 i would rather ask why go to US given their hostility to foreign investors

[@MrTyS1776]

No they won’t. They have unlimited oil and will run on that regardless what of green energy pushes or does

[@gregorygan2077]

WEF propaganda mouthpiece

[@areascoda2912]

This will be difficult because next year will have lots of geopolitical shake ups. Anybody that invests big money this year is foolish

[@hussienalsafi1149]

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[@leonarthakusumaeliasersale2805]

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