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...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

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

MU Stock Prediction 2030: Micron vs. Lucid Long-Term Price Outlook

Micron Technology and Lucid Group offer investors exposure to...

New AI Rules Come into Effect in the EU, Covering Chatbots and Deepfakes

As of today, fundamental provisions of the EU Artificial...

Sephora Stock & LVMH Investment Guide: Is Sephora Publicly Traded?

Sephora is one of the world’s most recognisable beauty...

Japan and US jointly intervene to support yen for first time in 15 years

Japan and the United States carried out a coordinated...

VUG Stock Split: What Vanguard’s 6-for-1 Split Means for Investors

Investors searching for information about the VUG stock split may have...
spot_img

spot_imgspot_img