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Falih, speaking at an energy industry event in Abu Dhabi, said
Riyadh would in the next few weeks start the first round of
bidding for projects under the program, which would produce 10
gigawatts of power.
In addition to that program, Riyadh is in the early stages of
feasibility and design studies for its first two commercial
nuclear reactors, which will total 2.8 gigawatts, he said.
"There will be significant investment in nuclear energy," Falih
said.
Under an economic reform program launched last year, Saudi
Arabia is seeking to use non-oil means to generate much of its
additional future energy needs, to avoid running down oil
resources which are required to generate foreign exchange
through exports.
Falih said Saudi Arabia was working on ways to connect its
renewable energy projects with Yemen, Jordan and Egypt. "We will
connect to Africa to exchange non-fossil sources of energy," he
said, without elaborating.
Its finances strained by low oil prices, Riyadh wants to conduct
many of its future infrastructure projects through partnerships
in which private companies from within the kingdom and abroad
would bear much of the cost and risk.
(Reporting by Rania El Gamal and Stanley Carvalho; Writing by
Andrew Torchia)
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