SEC official: ‘Solar energy is a must, not a choice’

Investors look at a mobile phone as they attend the fourth Annual Solar Arabia Summit in Riyadh.

Investors look at a mobile phone as they attend the fourth Annual Solar Arabia Summit in Riyadh.

RIYADH: Sun-blessed Saudi Arabia has no choice but to invest in solar energy, a senior official of the national electricity provider said.

“Solar energy is a must, not a choice,” Hamed Al-Saggaf, an executive director with the Saudi Electricity Company, told a conference on sun power.

The Kingdom is entirely dependent on oil and gas for its electricity production.

“If we continue to consume fuel at the same rate then there will be a great lost opportunity,” Al-Saggaf told the 4th Solar Arabia Summit of industry players.

“At least we have to start now,” Saggaf said.

The Kingdom has a peak electricity load of 57 gigawatts, which is expected to increase.

A 2011 report by Chatham House said Saudi Arabia consumes more than one-quarter of its total oil production.

Al-Saggaf outlined a plan to invest in hundreds of megawatts of solar energy over the next five years by focusing on isolated areas, in the country’s north and northeast, which currently rely on diesel power generation.

“The gateway for solar is the isolated areas,” he said.

“The cost of transporting the diesel is much higher than the subsidised cost of the diesel itself.”

The conference was told that Saudi Arabia plans to invest $109 billion to produce 41 gigawatts of solar energy by 2032 to cover 30 percent of its projected needs.

“It is a dream right now,” said another conference speaker, Ali Al-Maashi, of Saudi Basic Industries Corp (SABIC).

“I think we have the capability”, but clear policies and frameworks need to be in place, Maashi said.


Ministry to help create 100,000 new jobs
Samsung vows changes after mobile profit plunges
%d bloggers like this:
Powered by : © 2014 Systron Micronix :: Leaders in Web Hosting. All rights reserved

| About Us | Privacy Policy | Terms of Use | Disclaimer | Contact Us |