Saudi energy minister ‘confident’ Vision 2030 renewable energy project will meet deadline

The new plant will generate 300 megawatts of power. (File/AFP)
Updated 12 March 2019
0

Saudi energy minister ‘confident’ Vision 2030 renewable energy project will meet deadline

  • Solar project will be complete on time minister says
  • Tens of thousands of homes will benefit from the renewable energy

DUBAI: Saudi Arabia’s energy minister Monday visited the Sakaka Independent Power Photovoltaic Solar Plant – the first renewable energy project under the King Salman Renewable Energy Initiative, state news agency SPA reported.

Accompanied by Habib Abdul-Samad – the Assistant Undersecretary for Development Affairs, the Minister of Energy, Industry and Mineral Resources – Khalid Al-Falih was shown the progress on the $320 bln project, which forms part of the Vision 2030 commitment to renewable energy and is due for completion by the end of the year.

Once complete the plant will have a production capacity of up to 300 megawatts to meet the energy needs of approximately 45,000 homes in the Al Jawf region.

Falih met with management and workers on the site and praised the work so far, expressing his confidence that the project would be completed on time.

Mohammed Abunayyan, Chairman of ACWA Power – which leads the project -  said one of the main objectives and commitments of the Sakaka solar photovoltaic project was to achieve 100 percent local power generation during the first year.

He said the project also aimed to provide training and employment opportunities for young people through the Higher Institute for Water and Electrical Technologies in Rabigh.

The Sakaka photovoltaic project covers six square kilometers and is the first in a series of renewable energy projects launched under the National Renewable Energy Program, which seeks to achieve the plan and targets of the Saudi Renewable Energy Vision by producing 58.7 GW of renewable energy by 2030.


Apple’s Cook to China: keep opening for sake of global economy

Updated 23 March 2019
0

Apple’s Cook to China: keep opening for sake of global economy

  • Cook’s comments come as Apple weathers sinking sales in China
  • Despite official pledges and repeated assurances that China would continue to open its markets

BEIJING: Apple chief executive Tim Cook nudged China on Saturday to open up and said the future would depend on global collaboration, as the United States and China remained locked in a bitter trade dispute.
“We encourage China to continue to open up, we see that as essential, not only for China to reach its full potential, but for the global economy to thrive,” Cook said at a China Development Forum in Beijing.
Despite official pledges and repeated assurances that China would continue to open its markets, some analysts worry that its reform project has slowed or even stalled under President Xi Jinping, who has sought greater control over the economy and a bigger role for state-owned firms at the expense of the private sector.
Cook’s comments come as Apple weathers sinking sales in China because of a contracting smartphone market, increasing pressure from Chinese rivals, and slowing upgrade cycles. The company reported a revenue drop of 26 percent in the greater China region during the quarter ending in December.
Before those results came out, in a January letter to investors, Cook blamed the company’s poor China performance on trade tension between the United States and China, suggesting that pressure on the economy was hurting sales in China.