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From Electrek: Electrek green energy brief: Saudi oil company $5B into green energy, top 10...

Discussion in 'News from Electrek.co' started by RSSFeed, Jan 30, 2017.

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    Electrek green energy brief: Saudi oil company $5B into green energy, top 10 solar cell manufacturers, and more

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    World’s largest oil producer is putting $5B into renewables – Saudi Arabia has known for a long time that the oil revenue would not flow indefinitely. There have been many conversations about diversification – including going public with the Saudi state oil company, Saudi Aramco, and using large amounts of that money to push into tomorrow’s industries. Hard numbers though – Saudi Aramco is pumping about 10M barrels of oil per day right now, at a price of about $50-60/barrel which means $500-600M a day. This $5B investment would take 9-10 days to cover (they pump on weekends), and will probably be spread out over the next couple of years. Small drop in a big bucket, but solar power is now being funded from a very big and well funded bucket.

    Top 10 solar cell producers from 2016 – Just so you can get the brand names in your head (though this article isn’t just a list, its a nice read). Maybe afterwards read up on the companies a bit more – find out why they’re there and see if that aligns with what you value. Even better – some stock tips on these companies in the comment section. Thanks!

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