Total, Marubeni to Invest in 800-Megawatt Qatar Solar Plant

      Published on Monday, 20 January , 2020      58 Views     

  • Qatar Business

Marubeni Corp. and Total SA agreed to take a minority stake in a 1.7 billion-riyal ($464 million) project to build Qatar’s first solar power plant.

The companies will contribute funds and technological expertise for a combined 40% stake in the 800-megawatt Al-Kharsaah solar project, Qatari Energy Minister Saad Sherida Al-Kaabi said at a signing ceremony on Sunday in Doha.

A joint venture between Qatar Petroleum and Qatar Electricity & Water Co. will hold the remaining 60%.

Like many of its oil-rich neighbors, Qatar, the world’s biggest exporter of liquefied natural gas, is pushing into solar power and other forms of renewables for its local energy needs. Al-Kharsaah will be able to supply about a 10th of Qatar’s power when it starts supplying at full capacity in the first quarter of 2022, Al-Kaabi said.

Marubeni will invest about $95 million in the plant, for 20.4% of the total project, while Total will contribute about $91 million, for a 19.6% share, Al-Kaabi and Total Chief Executive Officer Patrick Pouyanne said at a news conference. Siraj Energy, the Qatari joint venture, will own the rest.

State-run Qatar Petroleum, where Al-Kaabi is also the chief, wants to build four new gas liquefaction plants, known as trains, and is negotiating a possible partnership with energy majors.

Qatar will decide this year whether it wants international partners to help expand the North Field, its part of the world’s largest gas deposit, Al-Kaabi said last month in Kuwait.

The agreement with Marubeni and Total “has absolutely nothing to do with the North Field bidding process,” he said.

Category Qatar Business | 2020/01/20 latest update at 12:00 PM
Source : Bloomberg | Photocredit : Google
Comments Add comment

БГ Медия - Медия за Българите в Лондон
Bulgarian Business Club

Related Articles

The editorial staff of Bulgarian Business Club would like to give all of its readers from Bulgaria and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bulgarian Business Club with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter or use our RSS feed channel to always read the most important news about Bulgaria.

Sponsored Publications