Saudi Arabia on track to become global solar leader

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The Ministry of Energy, Industry and Mineral Resources reaffirmed its plans to transform Saudi Arabia’s power sector11th Annual Arab Energy Forum held in Marrakesh. (SPA)
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The Ministry of Energy, Industry and Mineral Resources reaffirmed its plans to transform Saudi Arabia’s power sector11th Annual Arab Energy Forum held in Marrakesh. (SPA)
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The Ministry of Energy, Industry and Mineral Resources reaffirmed its plans to transform Saudi Arabia’s power sector11th Annual Arab Energy Forum held in Marrakesh. (SPA)
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The Ministry of Energy, Industry and Mineral Resources reaffirmed its plans to transform Saudi Arabia’s power sector11th Annual Arab Energy Forum held in Marrakesh. (SPA)
Updated 03 October 2018
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Saudi Arabia on track to become global solar leader

JEDDAH: The Ministry of Energy, Industry and Mineral Resources reaffirmed its plans to transform Saudi Arabia’s power sector to be more diversified, sustainable, competitive and efficient, in accordance with Vision 2030.
Contrary to recent media reports, the ministry, alongside the Public Investment Fund (PIF), SoftBank and other Kingdom’s stakeholders, is continuing to work on a number of large-scale, multibillion-dollar projects relating to the solar industry.
The long-term goal of these investments is to manufacture 200GW of PV capacity by 2030. Investors, technical advisers and contractors have been invited to take part in this program. Plans are also underway to develop shorter-term pilot projects.
Further detailing the ministry’s role, during the 11th Annual Arab Energy Forum held in Marrakesh, Abdulrahman Abdulkareem, adviser to the energy minister, outlined the Kingdom’s plan to become a global leader in solar energy and to develop $200 billion of investment opportunities in this promising sector.
The ministry has also outlined the power sector transformation plan which will comprise three main components: Restructuring the power market to enhance its competitiveness for consumers and its attractiveness for private-sector investments; Transitioning the Kingdom’s fuel and technology mix to include a significant capacity of renewables, primarily solar, but also wind; Investing, industrializing and localizing the full-value chain of the power industry for domestic and export-oriented manufacturing of conventional power components and services as well as new technologies.


Saudi Arabia, UAE to attend US-led Palestine investment meeting

Updated 23 May 2019
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Saudi Arabia, UAE to attend US-led Palestine investment meeting

  • The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting
  • Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands

JEDDAH: Saudi Arabia and the UAE will participate in a conference next month in Bahrain aimed at encouraging investment in the West Bank and Gaza Strip, as part of US President Donald Trump’s long–awaited Israel–Palestine peace plan. 

The Peace to Prosperity conference, to be hosted on June 25–26 in cooperation with the US, has already been rebuffed by Palestinian officials and business leaders, who want their political demands met by any proposed solution to the conflict.

The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting.

The Saudi minister of economy and planning, Mohammed bin Majid Al–Tuwaijri, will attend, the Saudi Press Agency reported on Wednesday.

The UAE Ministry of Foreign Affairs and International Cooperation said Abu Dhabi would also send a delegation.

The Palestinian Authority has boycotted American peace efforts since late 2017, when Trump decided to move the US Embassy from Tel Aviv to Jerusalem and recognized the latter as the capital of Israel, reversing decades of US policy.

The Trump administration has sought to enlist support from Arab governments.

But Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands, which include affirming East Jerusalem as the capital of a Palestinian state, the right of return for refugees, and a freeze on Israeli settlement construction.