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.


King Faisal Prize: Rewarding services to all of humanity

Updated 26 March 2019
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King Faisal Prize: Rewarding services to all of humanity

RIYADH: Prince Turki Al-Faisal’s father, the late King Faisal, was a beacon of aspiration and hope. 

During his reign, the first girls’ schools were introduced, and he focused on educating the Saudi population as a whole to promote peace. 

The King Faisal Foundation was founded by King Faisal’s sons and daughters to commemorate his memory and vision. 

The significance of the annual King Faisal Prize (KFP) dates back to when a reporter asked him how he saw Saudi Arabia in 50 years’ time. 

The king responded: “I see Saudi Arabia in 50 years’ time as a wellspring of radiance for humanity.” 

The root of the foundation and the prize stems from his vision for all of humanity: Peace through education.

“The prize was established by the King Faisal Foundation soon after the foundation was formed,” Prince Turki told Arab News.

“It carries the message that the welfare of humanity is the primary importance of service to humanity,” he said. 

“The versatility of Islam is celebrating knowledge for all nationalities. As the first verse in the Holy Qur’an was ‘Read,’” Dr. Abdul Aziz Al-Subayyil, secretary-general of KFP, told Arab News. 

“This a universal dialogue between all nationalities and scientific fields, which seeks peace through knowledge.” he said.  

The significance of the Prize shows that: “This is the real Islam and this prize in the country of the Two Holy mosques represents that we are trying to observe the teaching of Islam and its implementation through the prize, which is the encouragement of science and introducing knowledge to people,” Al-Subayyil said.