KSA sinks $100bn in clean energy over next decadeby Gavin Davids on Jun 23, 2011
The Saudi Arabian government will invest at least $100bn into clean energy resources over the next decade as it attempts to minimise the Kingdom’s dependence on oil, government officials have said.
The solar power industry is expected to play a prominent role in this drive towards obtaining alternative sources of energy, with the Kingdom’s government aiming to achieve a target of 5GW of solar generated power by the year 2020.
Saudi Arabia's fast growing population and economy is placing severe strain on the country's already over extended energy grid, and authorities have stressed the importance of finding alternative energy sources, with demand expected to peak at 120GW by 2012. That figure is expected to double within twenty years.
The kingdom's looming energy crisis will be the central focus of Solar Arabia, a summit that will attract key Saudi Arabian policy makers and government officials involved in shaping the Kingdom’s National Energy Plan, in September.
This summit, in Riyadh, will discuss the country’s options in tapping into alternative energy sources and how to best achieve it.
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