Saudi Arabia will need to invest hundreds of billions of dollars this decade on renewable energy and natural gas-fired electricity to meet its generation capacity targets, according to the head of Riyadh-based ACWA Power Co. The project will require building 60 to 80 gigawatts of power plants using renewable sources like wind and solar and about 30 GW of gas-fired plants. Chief Executive Officer Marco Arcelli speaks to Bloomberg's Yousef Gamal El-Din on "Bloomberg Daybreak: Europe" at the Future Investment Initiative conference in Riyadh, Saudi Arabia.
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