RetrofitTech KSA 2016
 
Friday, September 30, 2016
Directory Directory Subscribe
Login
 

Saudi Arabia to invest over $100 billion in renewable energy

 
 

Please, enter data

Please, enter data

PR, 15 January 2016

Saudi Arabia plans to spend over $100 billion in renewable energy projects to help meet its skyrocketing energy demand, experts said ahead of a major industry conference.

According to a recent report by Frost & Sullivan, the kingdom’s energy demand is expected to grow by 45% from 69 gigawatts (GW) in 2014 to 100 GW in 2040, an amount that is nearly as much as all of the rest of the GCC combined.

In anticipation, the kingdom plans to spend $109 billion to install 54GW of renewable energy by 2040, Frost & Sullivan said. By 2020, Saudi projects alone will account for 70% of the total value of the GCC’s renewable energy projects.

“With the Middle East’s renewable energy sector rapidly advancing, Saudi Arabia holds the region’s biggest potential for both solar and wind power,” said Roberto De Diego Arozamena, CEO of Abdul Latif Jameel Energy and Environmental Services.

“Renewable energy can help Saudi Arabia meet its growing energy demand, and also help diversify its economy, shift government energy subsidies, and provide jobs for the Saudi workforce,” he added, speaking ahead of the World Future Energy Summit (WFES) to be held next week in Abu Dhabi.

“Generally, for a successful renewable sector, governments need to implement holistic plans that boost both the innovation and manufacturing capacity to deliver practical, affordable, and competitive energy solutions,” he added.

Solar energy in particular is seeing the strongest take-up in Saudi Arabia, with the kingdom planning to install 41GW of solar power by 2040, according to the consultancy Arthur D Little.

To support solar power, Arthur D Little calls for easy financing of solar projects, strategic partnerships, deploying before manufacturing, and proactive energy policy reforms.
Press release
15 January

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Lebanon awards €108 million O&M contracts for 270 MW electricity
businessnews.com.lb, 30 September 2016

The contract for the operation and maintenance of the two new power plants at Zouk and Jiyeh has been won by a joint venture of Indian firm Operational Energy ...

Read full story
Lebanon awards €108 million O&M contracts for 270 MW electricity
Qatar reveals new visa rules to boost tourism
ArabianBusiness, 30 September 2016

A new tourism visa scheme that eases travel to passengers transiting through Doha has been introduced in a bit to promote tourism in Qatar, the Ministry of ...

Read full story
Qatar reveals new visa rules to boost tourism
Back to Home Page 1998 --- 385 <><><> 846.....exvideo=0....eximage=0
P 0
BR 16

RetrofitTech KSA 2016

 

 
Future Accessibility & Assistive Technology Dubai
10 - October 2016
Smart Parking KSA
17 - October 2016
Solar O&M and Asset Management MENA
17 - October 2016
3rd Annual Future Landscape & Public Realm Qatar
24 - October 2016
RetrofitTech KSA
24 - October 2016
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Smart Parking KSA 2016

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Saudi Agriculture - 2 October - 5 October 2016  
  Saudi Agrofood - 2 October - 5 October 2016  
  Saudi Build - 17 October - 20 October 2016  
  Saudi Stone-Tech - 17 October - 20 October 2016  
  PMV Series at Saudi Build - 17 October - 20 October 2016  
  Saudi Transport - 6 November - 9 November 2016  
IFP Group Events Calendar

 


Notice: Undefined variable: left3 in C:\inetpub\wwwroot\rec2008\ifpinfo\ifpinfo-news.php on line 1545

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
3rd Annual Future Drainage & Stormwater Networks Qatar
3rd Annual Future Landscape & Public Realm Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar StoneTech
Iraq
Energy Iraq - Erbil
Erbil International Fair
Iraq Agro-Food - Erbil
Medicare Iraq - Baghdad
Project Iraq - Erbil
Saudi Arabia
PMV Series at Saudi Build
Saudi Agriculture
Saudi Agrofood
Saudi Build
Saudi Power Sports
Saudi Stone-Tech
Saudi Transport
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved