The Kingdom has confirmed investments in the region of USD 109 billion to develop 41 GW of new solar energy by 2032. Plans released for achieving this include a break up of 25 GW of CSP and 16 GW of PV technologies.
However Tiwari acknowledges that there are hurdles that need to be overcome in order for Saudi Arabia to successfully achieve their goals.
He points out that “the current national energy plans focuses primarily on energy efficiency and renewable energy sources as a key national priority. However, the action needs to be taken early given the lead times required for the introduction of new technology and economic diversification. Raising domestic energy prices though difficult in their current situation; needs to be addressed at some time in future in a balanced and staged manner else the introduction of new technologies would be hampered on account of price competitiveness.”
Among the companies recent achievements is the successful commissioning of India’s first solar thermal project on July 19th 2013 under the Jawaharlal Nehru National Solar Mission, Phase – 1.