The Kingdom of Saudi Arabia has passed another milestone on its way to making solar energy a major pillar of domestic power supply and to kick-start a market for solar energy potentially worth billions of dollars.

At the Third Saudi Solar Energy Forum, hosted by the government’s renewable-energy policy maker King Abdullah City for Atomic and Renewable Energy (KA-CARE) in Riyadh on April 3, 2011, KA-CARE’s Vice President for Renewable Energy HE Dr. Khalid Al-Sulaiman presented the cornerstones and a clear roadmap for the development of renewable and nuclear energy in the country.

A key goal of the policy framework will be to push private-sector investments for the establishment of solar power plants. To make these investments economically attractive, the government will provide incentives, off-take schemes for power and funding mechanisms.

A next major milestone for the development of the Saudi solar-energy market will be the passing of the National Renewable Energy Law, expected in Fall 2011. Subsequently, a organization that will purchase solar energy will be established, and project developers will be invited to submit bids for the establishment of the first set of solar power plants. KA-CARE strives for the first solar capacity to be online in 2011. Even though market insiders view this target as tough to achieve, its symbolic value underlines the high ambitions of the Saudi government to transform the world’s oil champion into a solar powerhouse.

For a free copy of our brochure Large-scale projects expected soon – Prepare for market entry now please refer to Country Profile Saudi Arabia.

Author:

Apricum – The Cleantech Advisory

Apricum is a global transaction and strategy advisory firm dedicated to renewable energy and cleantech. Apricum’s team of experts combines decades of industry experience in cleantech, consulting, and corporate and project finance with an in-depth understanding of renewable-energy market dynamics.

Learn more