Monday, May 14, 2012

Solar: Saudi Arabia Unveils $100 Billion Plan

I just asked this in the previous post about the African Continents needs and potential: "And who will be producing the huge amount of product needs for the huge continent of Africa and the long time potential consumer market, not from here the U.S., as to the little private investments into economic growth from the free market capitalist and certainly as long as public investments are obstructed"

Saudi Arabia Unveils $100 Billion Plan To Make Solar ‘A Driver For Domestic Energy For Years To Come’
May 11, 2012 - Even the world’s largest producer of oil understands the value of developing renewable energy.

A few months after Saudi Arabia’s oil minister called global warming “among humanity’s most pressing concerns,” the country is rolling out an ambitious plan to source 41,000 megawatts of solar projects over the next two decades — scaling up a domestic solar industry to support one third of electricity production by 2032.

Solar electricity and petroleum serve completely different markets. However, in this case, solar will be directly replacing the oil that Saudi Arabia uses for desalination plants. Officials are currently rolling out a competitive bidding process for 1,100 megawatts of solar photovoltaics and 900 megawatts of concentrating solar power in the first quarter of 2013. read more>>>

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