Riyadh plans to build a $300 million solar farm that would generate enough electricity to power 200,000 homes, an example Saudi leaders hope will have positive consequences.
The energy giant is returning to a business it backed away from after the costly and reputation-tarnishing Gulf of Mexico oil spill.
In its annual report, the International Energy Agency said the global energy market — normally a slow-moving industry — was going through a major upheaval.
Seeking to adapt to upheaval in the energy market, Eneco is preparing for a future in which utilities provide services rather than kilowatts.
Ahead of meetings on global warming, executives recognize the need to show they are acting to pare energy use and emissions.
Solar farms are increasingly common, but they depend on the sun. A new technology harvests that energy so it can be sold when prices are high.
The government argued that the industry, which includes solar power plants and wind farms, could survive without the support.
The solar energy provider, which develops, manages and invests in facilities in France and several other countries, plans to raise about $195 million by next summer.