CleanTechnica is the #1 cleantech-focused
website
 in the world. Subscribe today!


Clean Power 20121124-012810.jpg

Published on November 25th, 2012 | by James Ayre

3

Saudi Arabia Investing $109 Billion Into Solar Energy, Wants 1/3 Of Electricity From Solar By 2032

Share on Google+Share on RedditShare on StumbleUponTweet about this on TwitterShare on LinkedInShare on FacebookPin on PinterestDigg thisShare on TumblrBuffer this pageEmail this to someone

November 25th, 2012 by
 
 
This article has been reposted from Solar Love with full permission.

Saudi Arabia is planning to invest $109 billion into solar energy, looking to develop a solar industry that can provide 1/3 of its electricity by 2032.

Doing so will free up larger quantities of its reserves for international sales rather than for use domestically. With the price of oil expected to rise significantly in the coming decades, such a move makes sense from an economic standpoint.

20121124-012810.jpg

Saudi Arabia’s first solar farm is expected to begin operations by 2015, and its first nuclear plant by 2020, according to an official at the agency developing the country’s renewable (and atomic) energy program.

Its first solar power plant is expected to begin construction in early 2013, and will take up to 2 years to complete.

Khalid Al-Suliman, vice president at the King Abdullah City for Atomic and Renewable Energy, said that “the project will get underway once the government approves his agency’s plan for renewable energy.” He’s expecting to officially receive approval by early 2013.


 
He says that they are currently targeting around “41,000 megawatts of solar capacity within two decades,” 16,000 megawatt of which would be from photovoltaic panels, and the other 25,000 from solar thermal technology. The country currently has only around 3 megawatts of solar installations.

It is also still moving forward with its plan to build sixteen nuclear reactors by the year 2030, for a total nuclear capacity of 14,000 megawatts, which is projected to cost the country around $100 billion.

With how competetively priced the solar power is compared to nuclear, it kind of makes you wonder if they have any ulterior interests in nuclear.

Source: Bloomberg
Image Credits: Solar Power via Wikimedia Commons

Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.

Print Friendly

Share on Google+Share on RedditShare on StumbleUponTweet about this on TwitterShare on LinkedInShare on FacebookPin on PinterestDigg thisShare on TumblrBuffer this pageEmail this to someone

Tags: , , , , , , , , , , , , ,


About the Author

's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.



  • http://MrEnergyCzar.com/ MrEnergyCzar

    They are realizing that they will eventually hit peak oil like most other countries…

    MrEnergyCzar

  • Mahendra varma

    This is a Good move by Saudi Government. Hope if it get approved by the government soon so that the project can complete soon and can be utilize it soon.

  • http://www.facebook.com/people/Frank-Morris/100000088821459 Frank Morris

    nuke and solar?

Back to Top ↑