GE Banking on Saudi Arabia's Shift Toward Solar Power

GE Banking on Saudi Arabia's Shift Toward Solar Power | Renewable Energy News Article

renewableenergyworld.com 03 Oct '12, 6pm

GE Banking on Saudi Arabia's Shift Toward Solar Power

Saudi Arabia already has 500 installed gas turbines from GE that generate about half its electricity, and the Middle Eastern country plans to more than double its power capacity by 2030 to meet utility-demand growth of about 8 percent a year. “In the short- to medium-term, it’s still a lot of thermal power, so we will support that just like we have been, both by providing advanced technology and servicing it locally,” Steve Bolze, head of GE Power & Water, said in an Oct. 1 interview in Dammam. The company announced an order for eight gas-turbine generators to expand a power plant in Riyadh the day before, as Saudi Arabia adds 33,000 megawatts of generation capacity in the next eight years alone. GE, which draws about half of its approximately $10 billion a year in Middle Eastern sales from energy, expects to benefit from climbing solar demand in that period, too. Saudi Ar...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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