Monday 18 June 2018

Saudi plans $108bn investment in solar projects

Riyadh, March 9, 2013

Saudi Arabia is fast becoming a leading investor in alternative energy with the government announcing various solar energy projects that are aimed to ensure sustainable long-term supply of energy across the Kingdom, said an expert ahead of an key energy event.

The government has already announced plans to invest SR408.75 billion ($108.9 billion) to produce an additional 41 GW of solar energy by 2032, which will account for a third of the total domestic energy consumption.

With the first round of solar energy project tenders expected to be launched within the first quarter of 2013, Saudi Arabia has already generated strong attention from international suppliers, contractors and other key industry players in the global renewable energy sector, revealed Khaled Daou, the project manager of Saudi Energy 2013 – The 16th International Trade Exhibition for Electricity Power Generation, Alternative Energy, Water Technology, Lighting & HVAC, at Riyadh Exhibitions Company.

Saudi Energy 2013 will be critical for regional and international alternative energy companies looking to penetrate the Kingdom’s booming market.

Saudi Energy is the kingdom’s premier specialized energy exhibition that will gather all key energy sector entities, including senior government officials, decision makers, investors and energy experts, to meet with international exhibitors and explore new technologies, techniques and best practices that will support the Kingdom’s aggressive investments in alternative energy.

"The sharp increase in demand for energy in Saudi Arabia has led to a surge in interest in alternative energy sources, particularly solar energy which is an abundant energy resource in the Kingdom," stated Khaled Daou.

"In addition to diversifying Saudi’s energy resources, the government’s aggressive investments in renewable energy is also part of a strategy to maximize its traditional energy reserves, while taking huge steps towards significantly reducing carbon emissions," he said.

"The upcoming Saudi Energy 2013 will be an important venue that will support the KSA Government’s proactive efforts to build its renewable energy infrastructure. The event provides a dedicated platform for technology suppliers and buyers from the Kingdom to discuss the best possible solutions to move forward with KSA’s renewable energy program," he added.

Saudi Energy will run from May 26 to 29, 2013, at the Riyadh International Convention and Exhibition Centre. It is one of the largest and most specialized energy exhibitions in the region, covering all energy sector aspects from electricity generation and distribution to alternative and renewable energy technologies; modern lighting products and technologies; water and water resources management technologies; and HVAC.

Saudi Energy 2013 includes four of Saudi Arabia’s top energy-related shows: Saudi Elenex 2013 – The 16th International Electrical Engineering, Power Generation & Distribution Exhibition; Saudi Luminex 2013 – The 13th International Lighting Equipment Show;  Saudi Aircon 2013 – The 14th International Exhibition on Air-Conditioning Heating, Ventilation & Refrigeration; and Saudi Water Tech – The 10th International Exhibition for Water Technology.

Certified by the UFI – The Global Association of the Exhibition Industry, Saudi Energy, last year welcomed 338 exhibitors and 7,941 visitors from 11 countries.-TradeArabia News Service

Tags: Saudi | investment | solar |

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