Half of Oman’s properties could have solar energy in five years, conference told

Will Oman see 50% of its homes with solar panels in five years? (Shutterstock)
Updated 03 October 2017
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Half of Oman’s properties could have solar energy in five years, conference told

DUBAI: Half of all houses in Oman could have rooftop solar panels supporting their energy needs in the next five years a conference has been told.
Speaking at the Oman Economic Review Business Summit 2017, Raoul Restucci, managing director at Petroleum Development of Oman (PDO) said there was a “technology revolution” at their doorsteps, national daily the Times of Oman reported.

“In my view, when we fly over the Sultanate, 50 percent of Omani houses will have solar panels installed in the next five years… The cost of solar will go lower and there will be a tipping point for electric vehicles if a good storage technology is developed. Moreover, demand for these technologies is growing and it makes a perfect storm that will challenge the economic model of every country. We need to get on this transition train. Diversification is a must.”

Christensen Flemming, senior project manager at Italian company CESI recently said solar energy was the cheapest source of electricity.

Oman already ranks as one of the most prominent nations for the amount of solar energy it generates, which ultimately makes the ongoing shift to this green form of power in the country inevitable, the report added.

And Oman’s Authority for Electricity Regulation recently launched the Sahim initiative which allows residents to install solar panels on their houses while still connected to the national power grid.

According to the report most Omani residents believe they can put solar panels on their roofs, but added that the public and private sectors needed to commit further to the push for green power.


US-Saudi business council reports $13bn in contracts

Updated 7 min 53 sec ago
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US-Saudi business council reports $13bn in contracts

  • Improved oil prices, combined with a government focus on spending, contributed to the rise, the council said

LONDON: The value of joint Saudi-US contracts rose to $13 billion in the first quarter of 2019, according to a business council report.

That marked the highest value of awarded contracts since the first quarter of 2015, the US-Saudi Arabian Business Council said.

The value of contracts awarded during the first quarter amounted to about half of the total value in all of last year, it added.

The contracts “included many vital projects, notably in the oil, gas, water and transport sectors,” Abdallah Jum’ah, the co-chair of the council, was reported as saying by Asharq Al-Awsat.

Energy was the top sector, with $3.1 billion of the value of contracts awarded, with many struck by Saudi Aramco. 

Improved oil prices, combined with a government focus on spending, contributed to the rise, the council said.

The construction sector also looks set for a recovery after many projects were put on hold due to the oil-price crash.

“If the pace of awarding construction contracts witnessed during the first quarter of 2019 continues for the rest of the year, the index of awarding construction contracts may return to the range we witnessed before the canceling and postponing of mega projects due to lower oil revenue,” the council said.