Kuwait ditched large solar project, partly due to coronavirus

“The cabinet decided to cancel further steps on the project due to coronavirus pandemic and its impacts on the global oil and financial markets,” Kuwaiti cabinet reported in the beginning of this week. The solar project Al-Dabdaba should have provided electrical energy necessary for oil mining. The plant should have provided up to 15% of electrical energy consumption in oil sector. 

The photovoltaic power plant should have start operating in the beginning of 2021, yet the date would be rather unrealistic due to delayed bureaucratic procedures. The solar project would be about 32 square kilometers large and located located 100 kilometers west of Kuwait City. The installed capacity is supposed to be 1.5 gigawatts divided into 5 separate blocks, each with the capacity of 300 megawatts. Kuwaiti government will search for ways to fulfill its commitments to generate 15% of its energy via renewable sources by 2030.

 

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Siemens’ Quarterly Profit Beats Estimates as the Company Benefits from AI-Related Demand

German industrial conglomerate Siemens increased its profit from industrial...

Sell Stop Orders: How They Work, When They Trigger and Where They Fail

A sell stop order allows investors to automatically sell an asset...

German Authority Investigates PayPal Over Possible Restriction of Competition

The online payment system PayPal may be engaging in...

Airbnb Could Earn More From the Same Booking

Airbnb plans to bring car rentals and partner services directly into its platform. With AI customer support reducing overheads, the company aims to earn higher profits from existing customer bookings.

Over-the-Counter Markets: How OTC Trading Works Outside Centralized Exchanges

Over-the-counter (OTC) trading allows investors, financial institutions, and companies...

Maersk’s profits grew, but a return via Suez may squeeze margins [1]

Maersk posted an operating profit of USD 3.3 billion...

Shooting Star Candlestick: How to Read It Without Trading the Shape Alone

A shooting star candlestick can warn that an upward...
spot_img