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Saudi Arabia to become major solar power exporter under new plan

Posted on March 31, 2018, 9:40 pm
3 mins

Author: Arab NewsSat, 2018-03-31 03:00ID: 1522446714209568800

Saudi Arabia has unveiled plans to transform its solar power production, in line with the Vision 2030 strategy to diversify the countrys economy and end its reliance on oil.
Under the Solar Power Project Plan 2030, the Kingdom expects to produce 200 gigawatts of the solar power by 2030, acccording to the SPA.
At the launch of the plan, experts said the project will transform the Kingdom into a leading exporter of sustainable energy, thanks to its natural resources and environmentally friendly industries relying on sun, wind, and sand rich in silica.
Solar power will be the worlds largest energy source by 2050, according to the International Energy Agency.
The Saudi solar initiative will help to diversify the national economy and stimulate investment in non-oil industries. The project will also reduce solar power production costs and create employment opportunities for Saudi workers, with up to 100,000 jobs in solar power schemes alone.
Meanwhile, King Saud University in Riyadh has joined a research project with Japan and Peru to monitor changes in the sun and their effects on Earth.
The Kingdoms history of solar research goes back 38 years, when King Salman opened the research plant at King Abdul Aziz City — the first solar power site in the Kingdom. The plant provided solar electricity to Uyayna, Jubaila and rural centers near Riyadh.
The solar village, part of a Saudi-US partnership, produces 350 kilowatts of electricity through concentrated photovoltaic complexes.
Crown Prince Mohammed bin Salman has outlined Saudi Arabias transformation into a “Kingdom of Sustainable Energy” era within five months. In October 2017, Riyadh hosted the beginning of the development of the strategy (Solar Plan 2030) with the participation of the Public Investment Fund and Softbank Vision Fund.
On March 28, during his groundbreaking visit to the US, the crown prince signed a memorandum of understanding with Softbank Vision Fund to create a plant for the project, which would be completed and ready to start production of solar energy by early 2019.
Prince Turki bin Saud bin Mohammed, president of King Abdul Aziz City for Science and Technology, said: “Saudi Arabias current energy needs are 75 gigawatts. The 2030 solar plan would enable the Kingdom to export surplus electricity and thus provide alternative energy to the Kingdoms oil.”

Main category: Saudi ArabiaTags: King Saud UniversitySoftbank Vision FundSaudi Crown Prince Royal TourSolar Power Project Plan 2030related_nodes: Saudi crown prince signs MoU with SoftBank to set up world's largest solar projectSaudi-backed SoftBank Visions war chest approaches $100bnNew technology deals could set Saudi Arabia on a path to rapid innovation

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Saudi Arabia to become major solar power exporter under new plan

Posted on March 31, 2018, 9:40 pm
3 mins

Author: Arab NewsSat, 2018-03-31 03:00ID: 1522446714209568800

Saudi Arabia has unveiled plans to transform its solar power production, in line with the Vision 2030 strategy to diversify the countrys economy and end its reliance on oil.
Under the Solar Power Project Plan 2030, the Kingdom expects to produce 200 gigawatts of the solar power by 2030, acccording to the SPA.
At the launch of the plan, experts said the project will transform the Kingdom into a leading exporter of sustainable energy, thanks to its natural resources and environmentally friendly industries relying on sun, wind, and sand rich in silica.
Solar power will be the worlds largest energy source by 2050, according to the International Energy Agency.
The Saudi solar initiative will help to diversify the national economy and stimulate investment in non-oil industries. The project will also reduce solar power production costs and create employment opportunities for Saudi workers, with up to 100,000 jobs in solar power schemes alone.
Meanwhile, King Saud University in Riyadh has joined a research project with Japan and Peru to monitor changes in the sun and their effects on Earth.
The Kingdoms history of solar research goes back 38 years, when King Salman opened the research plant at King Abdul Aziz City — the first solar power site in the Kingdom. The plant provided solar electricity to Uyayna, Jubaila and rural centers near Riyadh.
The solar village, part of a Saudi-US partnership, produces 350 kilowatts of electricity through concentrated photovoltaic complexes.
Crown Prince Mohammed bin Salman has outlined Saudi Arabias transformation into a “Kingdom of Sustainable Energy” era within five months. In October 2017, Riyadh hosted the beginning of the development of the strategy (Solar Plan 2030) with the participation of the Public Investment Fund and Softbank Vision Fund.
On March 28, during his groundbreaking visit to the US, the crown prince signed a memorandum of understanding with Softbank Vision Fund to create a plant for the project, which would be completed and ready to start production of solar energy by early 2019.
Prince Turki bin Saud bin Mohammed, president of King Abdul Aziz City for Science and Technology, said: “Saudi Arabias current energy needs are 75 gigawatts. The 2030 solar plan would enable the Kingdom to export surplus electricity and thus provide alternative energy to the Kingdoms oil.”

Main category: Saudi ArabiaTags: King Saud UniversitySoftbank Vision FundSaudi Crown Prince Royal TourSolar Power Project Plan 2030related_nodes: Saudi crown prince signs MoU with SoftBank to set up world's largest solar projectSaudi-backed SoftBank Visions war chest approaches $100bnNew technology deals could set Saudi Arabia on a path to rapid innovation

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