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Economy, Energy

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

7.1 GW of renewable energy under production in Saudi Arabia

An additional 15 GWs are expected in 2022 and 2023. (AFP)
By TRENDS Desk
July 25, 2022 10:17 pm
  • The current production capacity of renewable energy projects is 700 megawatts.
  • Energy projects are covered under the National Renewable Energy Program (NREP).

Saudi Ministry of Energy has put forward renewable energy projects with a production capacity of 7.1 gigawatts (GWs), which are now in various stages of completion, media reports said, quoting S&P Global.

An additional 15 GWs are expected in 2022 and 2023, the agency cited the ministry as saying.

The current production capacity of renewable energy projects operating across the kingdom, under what was proposed in the National Renewable Energy Program (NREP), is 700 megawatts.

A sharp increase in the volume of production capacity of facilities up and running is foreseen over the next two years, the reports said.

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