Qatar announces new solar projects to more than double its energy output from renewable sources within 2 years

South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
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Updated 23 August 2022
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Qatar announces new solar projects to more than double its energy output from renewable sources within 2 years

DOHA: Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source within two years.

Energy Minister Saad Sherida Al-Kaabi hailed the new development as a major step in efforts to “increase the reliance on high-efficiency renewal energy” in the Gulf state, which is one of the world’s biggest liquefied natural gas producers.

The new plants at Mesaieed and Ras Laffan will take Qatar’s solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.

Mesaieed and Ras Laffan are key bases for Qatar’s natural gas production, which is also undergoing major expansion.

South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million, the statement said.

Qatar has announced a target of 5 GW of solar energy capacity by 2035.

FASTFACTS

The new plants at Mesaieed and Ras Laffan will take Qatar’s solar output to 1.67 GW by the end of 2024.

Mesaieed and Ras Laffan are key bases for Qatar’s natural gas production, which is also undergoing major expansion.

Qatar has announced a target of 5 GW of solar energy capacity by 2035.

Last month it plugged the 800 MW Al-Kharsaah solar farm into its national energy grid, according to industry sources.

Al-Kharsaah is expected to be fully operational before the start of the World Cup football tournament on Nov. 20.

Organizers have used the huge solar plant west of Doha to back claims that Qatar will host the first “net zero” World Cup — where greenhouse gas emissions are compensated by renewable energy sources.

Desert sand and dust on the 2 million photo voltaic cells at Al-Kharsaah are cleaned each day by robots, and Qatar Energy said the same system would be used at the two new farms.


Silver crosses $77 mark while gold, platinum stretch record highs

Updated 27 December 2025
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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.