Qatar Signs $470 Million Deal to Build its First Solar Plant

Qatar, in conjunction with French and Japanese partners, has signed a $470 million (KSh47 billion) deal to build its first solar energy plant.

According to Qatar’s minister for Energy, Saad al-Kaabi, the plant will span across a 10 square kilometres of land, set for completion in 2022. Once complete, the facility will be able to produce 800 Megawatts of power, as well as 10% of peak demand.

Furthermore, the whole project will cost $470 million, with state firms getting 60% stake as foreign investors get 40%. Japan’s Marubeni will take 51% of the holding while France’s Total will take the remaining 49%.

This development comes even as the Middel East countries are gearing towards diversifying their sources of energy’ away from oil and gas, and more of solar and nuclear plants.