Electric power generation to go nuclear

Updated 14 November 2012
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Electric power generation to go nuclear

JEDDAH: The Kingdom’s electricity generating stations will replace diesel and gas fuels with nuclear and renewable energy over the next 10 years, a top official said.
“The Kingdom is moving toward adopting nuclear and renewable energy including solar and wind energy as the global studies have confirmed their profitability, and hopes to achieve the transition in the next 10 years,” said Abdullah Al-Shahri, governor of the Electricity and Co-Generation Regulatory Authority (ECRA).
Al-Shahri appealed to the electricity consumers to adopt the building code and installation of quality electrical equipment as a means to cut electricity bills by half.
“Currently the Saudi Arabian Standards Organization and the Customs Department are making joint efforts to lay down the required specifications for the electrical appliances to be imported to the Kingdom and will start implementing them from next year,” he said.
The Shoura Council has asked the Water and Electricity Ministry to use solar energy in developmental activities in the Kingdom.
Al-Shahri also said steps are currently being taken to remove overhead high tension cables passing through major cities beginning from Riyadh and will be removed from other cities and towns later. “The reason for the delay in removing the cables is the huge replacement cost besides that they are mostly used in remote places,” he said.
The governor said 80 percent of the Kingdom’s power-generating companies are under the Saudi Electricity Company (SEC).
Studies are underway for a comprehensive SEC restructuring designed to lead to an eventual liberalization and transition to a competitive electricity market.
The study also involves dividing SEC’s power generation business into similar companies that will compete with each other and SEC’s independent power providers (IPPs). The SEC will also set up a single buyer of electricity from the many electricity generation companies and the IPPs, according to an earlier report.
A liberalized power sector is expected to help ease increasing electricity demand in the Kingdom which will is projected to reach higher than 120,000 MW in 2030.
SEC is one of the largest utility companies in the GCC, both by market capitalization and in terms of its installed power generation capacity.









As the major electricity provider serving almost 6 million customers in the Kingdom, SEC is responsible for generation, transmission and distribution of electricity throughout the Kingdom.


Saudi Arabia’s King Salman will patronize the launch of the Qiddiya Project

Updated 55 min ago
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Saudi Arabia’s King Salman will patronize the launch of the Qiddiya Project

JEDDAH: Saudi Arabia’s King Salman will patronize on Wednesday the launch of the “Qiddiya” Project which is the new entertainment, sports and cultural destination in the Kingdom.
The project will be built in Al-Giddiya area, some 40 km west of the capital, Riyadh.
The foundation stone ceremony of will be attended by a host of local and international officials, as well as a number of decision-makers, major investors and representatives of the regional and international companies, marking the launch of the project’s formal infrastructure. The first phase will be completed by 2022.
In a statement to Saudi Press Agency (SPA), Dr. Fahd bin Abdullah Tounsi, Secretary General of the Foundation Council of the Qiddiya Project of the Public Investment Fund (PIF) said that the inauguration of this vital project is a real translation of the aspirations of the Kingdom’s wise leadership and its relentless efforts to develop mega projects that would contribute effectively to achieve many direct and indirect economic returns, and to advance sustainable development for the benefit of the homeland and the citizen, in accordance with the Kingdom’s Vision 2030.
“About two-thirds of the Kingdom’s population is under the age of 35. There is a great need for Qiddiya Project to provide them with entertainment. The project will save about $30 billion, which will be used to develop the domestic economy and create new job opportunities for Saudi youths,” he added.
For his part, Michael Reininger, Chief Executive of Qiddiya, said, “we are delighted to be a key contributor to boost the Kingdom’s economic development and investment, not only for the entertainment industry but also to projects that will develop the capabilities the young Saudi people.”