21 Jan '15, 4pm

Saudi Arabia Delays $109 Billion Solar Program Eight Years

“We have revised the outlook to focus on 2040 as the major milestone for long-term energy planning in Saudi Arabia,” said Hashim Yamani, president of the King Abdullah City for Atomic and Renewable Energy, the royal agency established to oversee renewable energy policy. The comments at a conference in Abu Dhabi yesterday are a blow to the kingdom’s effort to feed its rapidly growing population’s demand for more electricity. The world’s largest oil exporter is having to divert crude supplies for domestic power generation during the hottest summer months, reducing its main source of income. King Abdullah’s government set out its ambitions for diversifying its energy supplies in May 2012, the year after an influential Chatham House paper suggested business-as-usual policies would leave the kingdom a net oil importer by 2038. A plunge in oil prices is only concentrating offici...

Full article: http://www.renewableenergyworld.com/rea/news/article/2015...

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