15 Jan '12, 6pm

Solar Energy in the Arabian Peninsula: German, Swiss Investment Firms Plan $2-Billion Project

Solar Energy in the Arabian Peninsula: German, Swiss Investment Firms Plan $2-Billion Project

Photo courtesy Utilities-me.com Swiss and German private equity funds Terra Nex and Middle East Best Select announced plans to build 400-megawatts of solar power generating capacity in the southeastern Arabian peninsula country of Oman, according to news announcements. The $2-billion project calls for construction of solar power installations, as well as facilities to manufacture solar photovoltaic (PV) panels for use in Oman and for export. The investments add momentum to a solar power industry searching for emerging markets in which to invest, as well as possibly take up some of the excess inventory of solar PV panels that flooded the marketplace in 2011, bringing prices down some 60%. They come hot on the heels of the United Arab Emirate of Dubai announcing a 20-year, $3.27-billion plan to build a 1-gigawatt (GW) mixed solar PV and concentrated solar power (CSP) station...

Full article: http://cleantechnica.com/2012/01/15/solar-energy-in-the-a...

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