Saudi Arabia seeks EoI for seven solar projects worth $1.5 billion

Saudi Arabia seeks EoI for seven solar projects worth $1.5 billion

Last year, ACWA Power was selected in a tender to develop the 300-MW Sakaka solar farm, its first utility-scale renewable energy plant.

General Electric this week announced an expansion of GE Renewable Energy, in the latest iteration of the corporation's energy business.

GE announced on Wednesday that it proposes to consolidate its renewable and grid assets under one banner - 'GE Renewable Energy'. It comes on the heels of several larger reorganizations in efforts to cut costs, including one in November 2017 and another in June of past year. GE reported Thursday that annual revenue for the new segment, totaling $3.4 billion, was up 28 percent year-over-year.

Profit was also impacted by damages for delays to projects and higher losses related to its legacy joint venture with Alstom, the company said.

GE's arguments for the renewable restructuring align with its past goals to streamline the company's operations.

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GE previous year announced plans to focus on jet engines, power plants and renewable energy, by disposing of its healthcare and Baker Hughes units, along with other ongoing restructuring programs.

Pakistani manufacturers might also need the government help in pushing sales of new Pakistani clean energy products overseas in order to build bigger markets and lower manufacturing costs, Mr Siddiqui said. "This move will help our Renewable Energy teams to better support their customers in leading the energy transition by simplifying the way they can access innovative products, integrated solutions, and services that reflect the evolution of the clean energy marketplace".

The government had already waived off taxes and duties on the import of renewable energy products, and local manufacturers could not compete with the low-cost imported items, he added. Onshore wind equipment and service orders were the big drivers there, and orders were up 19 percent, according to the company.

"This strategic realignment positions GE to lead in the fast-growing renewable energy market", comments H. Lawrence Culp Jr., chairman and CEO of GE.

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