11 May '12, 6pm

$109 Billion Increase for Solar in Saudi Arabia

$109 Billion Increase for Solar in Saudi Arabia

Saudi Arabia is well known for being a leading exporter of crude oil, but soon enough it may also add substantial solar to its energy profile. The country is planning to have a solar capacity of 41,000 megawatts by 2032 . How will it grow so much in just twenty years? The country has begun a $109-billion plan to finance its solar endeavors, and is seeking outside investors. First Solar Inc. and SunPower Corp. are two of the larger companies mentioned so far as potential investors. However, it has been said they would probably need to do their manufacturing within the country. Otherwise, their efforts may not be profitable, and even if they have a local presence, profits will likely be lower than for American or European installations. The majority of the 41,000 megawatts will likely be concentrated solar thermal power plants, which focus sunlight to very high temperatures ...

Full article: http://cleantechnica.com/2012/05/11/109-billion-increase-...

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