Saudi Arabia plans to emerge as the next solar hub

Saudi Arabia has unveiled one of the world's most ambitious solar-energy programs. During an event in Riyadh representants from the  King Abdullah City for Atomic and Renewable Energy (KA-CARE) announced the country’s renewable energy plans until 2032. The biggest crude oil exporter nation has the intention to generate almost a quarter of its electricity from solar energy, with 41 GW of solar power capacity. The ambitious solar targets will turn the country in one of  the most important market worldwide instlling around 2GW/year.   The Saudi Arabian government is already preparing the launch of the first tenders to be released at the beginning of  2013.There will take place two  competitive bidding rounds for around 5 GW of utility-scale solar projects in total.The tender rounds will be followed by a feed-in-tariff scheme similar to Germany's successful program. The plan requires an investment of around $109 billion and it's estimated that around 25 GW might be provided by CSP plants and the rest from photovoltaic installations.   The Saudi Arabian plans are still more ambitious than India's Jawaharlal Nehru National Solar Mission that plans  to achieve 20 GW until 2022.  If Saudi Arabian plans come true the worldwide solar industry will benefit, as the market is actually suffering from overcapacity, FIT cuts and the worldwide economic instability.

Business | News published on 17/05/2012 by Gisela Bühl

 
 
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