Saudi to invest $109bn in solar energy by 2032
Kingdom has potential to be largest producer of solar energy in world
The Kingdom of Saudi Arabia has announced plans to invest $109bn to produce 41 gigawatts (GW) of solar energy by 2032 - almost 30% of its total energy requirement by that time.
Over the next two decades, the government is to establish energy generation projects, which runs on photovoltaic cells (PV cells) with a capacity of 16GW. In addition, it will also facilitate energy generation projects that will make use of energy concentrate with a capacity of 26GW.
All these initiatives will boost the Kingdom’s potential for becoming the largest producer of solar energy in the world.
Saudi Energy 2014 – the international trade exhibition for electricity, power generation, alternative energy, water technology and lighting - will take place in the kingdom to throw the spotlight on the latest products and services for the power sector.
Held under the patronage of the Ministry of Water and Electricity, and organised by Riyadh Exhibitions Company and Informa Exhibitions, Saudi Energy 2014 will be held from 26-28 May, 2014 at the Riyadh International Convention and Exhibition Centre.
Fahad Al Athel, deputy general manager, Riyadh Exhibitions Company, said: “The Kingdom of Saudi Arabia is witnessing a major development in the area of alternative energy, with strategic plans being implemented and key projects being undertaken to meet the increasing demand for energy.
“Saudi Energy 2014 will make a definite contribution towards this transformation by offering a gateway for international experts to network with local players to discuss the latest industry trends, explore business prospects and opportunities of mutual cooperation. The exhibition promises to be fruitful for both exhibitors and visitors comprising government officials, contractors and consultants, developers and investors, and engineers and technicians, to name a few.”