Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Qatar's ruler, Emir Sheikh Tamim bin Hamad Al-Thani, vowed at the United Nations last year that the tournament would be carbon neutral,

Energy

Qatar signs $470 mn solar deal

Qatar’s ruler, Emir Sheikh Tamim bin Hamad Al-Thani, vowed at the United Nations last year that the tournament would be carbon neutral/AFP

DOHA, Qatar,Jan 19 – Gas-rich Qatar signed a $470-million deal on Sunday to build its first solar energy plant, capable of meeting up to one-tenth of peak national power demand.

The Al-Kharsaah plant, near the capital, is a 10-square-kilometre (4-sq-mile) joint venture with French and Japanese partners due for completion in 2022 ahead of the football World Cup.

“Eight times the solar power pledged in the World Cup bid will be produced,” Energy Minister Saad al-Kaabi told a media briefing in Doha.

Qatar’s ruler, Emir Sheikh Tamim bin Hamad Al-Thani, vowed at the United Nations last year that the tournament would be carbon neutral, but gave little detail on how this would be achieved.

“Production capacity will be around 800 megawatts and 10 percent of peak demand,” said Kaabi following a signing ceremony between Qatari state firms, France’s Total and Japan’s Marubeni.

“Eight-hundred megawatts will be the largest (solar power plant) built by Total,” said the French energy giant’s chief executive, Patrick Pouyanne.

By contrast, Abu Dhabi’s Sweihan plant, one of the world’s largest solar projects, produces 1,177 megawatts.

The capital cost of the venture is 1.7 billion riyals ($470 million), Kaabi said, with state firms taking a 60-percent stake and foreign investors 40 percent.

Marubeni will take 51 percent of the minority holding, while Total will have 49 percent.

“It’s a pilot project, you have to assess how successful it is,” added Kaabi.

Advertisement. Scroll to continue reading.

Gulf states, heavily depend on oil and gas, have invested tens of billions of dollars in clean energy projects, mainly in solar and nuclear.

But critics say many such projects are slow to get off the drawing board.

The United Arab Emirates said last week its first nuclear power plant would start operating within months after repeated delays to meet safety and regulatory conditions.

The UAE will have the first operational nuclear reactor in the Arab world.

Saudi Arabia, the world’s top crude oil exporter, has said it plans to build up to 16 nuclear reactors, but the projects have yet to materialise.

Critics say the addiction to oil is hard to kick, particularly when supplies remain abundant and the high costs of investment in infrastructure needed to switch to renewables.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...