Committed to developing solar in Saudi Arabia, Indian energy magnate Sterling & Wilson is joining global solar-tech leaders in Riyadh to capitalise on Kingdom’s National Energy Plan
Riyadh, April 30th 2013 –
Saudi Arabia is aggressively acting on years of speculation in an attempt to achieve the world’s most ambitious solar power target. Once aiming to develop 41 GW by 2032, the Kingdom is now aspiring to develop 54 GW within the same time frame.
Skeptics may be difficult to convince, but recent developments in the field help put these ambitions within context. A new report by National Renewable Energy Laboratory stated that in 2013 alone, Saudi Arabia could sign as much as US$ 7 billion in solar contracts. Additionally, during the 2nd Annual Solar Arabia Summit held in September 2012, His Excellency Dr Osama Fadl Al Bar, Mayor of Makkah, announced a 100 MW solar project solely for the Makkah Municipality.
“I would say solar is now a compulsion for Saudi Arabia. With a huge internal oil consumption of more than three million barrels a day and 60 percent electricity generation through diesel, the costliest way of producing power, it is the right time for Saudi Arabia to change and optimise its energy mix,” explained Bikesh Ogra, President at Solar, Sterling & Wilson.
Sterling & Wilson havevast experience in developing solar projects including a 36.3 MW solar park in Thar Desert of Rajasthan, India in March 2013. According to Ogra: “Thar Desert has climatic conditions similar to those of Saudi Arabia. This ground mounted solar plant has been constructed by following world class engineering practices and uses the latest technology. It will create a favourable impact on the environment too by off-setting approximately 51,840 tons of CO² every year.”
“With one of the highest irradiation levels in the world coupled with recent steep falls in prices of PV systems and a reduced construction time, solar is an even more pertinent option for Saudi Arabia,”Ogra added.
Actively expanding its presence in the region, Sterling & Wilson are participating at the 3rd Annual Solar Arabia Summit as a Gold Sponsor this September in Riyadh. Organised by French deal facilitation group, naseba, it is bringing together 250 key Government officials and heads of private sector organisations to meet with international solution and service providers to develop solar power.“Initiatives like these shall serve as a guiding light for governments and corporations to smartly exploit alternate energy sources and successfully utilise global experience,“ remarked Ogra.
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