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The Dangers Of A Bullish Oil Market

The Dangers Of A Bullish Oil Market

Geopolitical tensions continue to threaten…

Saudi Arabia Ready to Begin Work on $109 Billion Solar Energy Plan

Saudi Arabia Ready to Begin Work on $109 Billion Solar Energy Plan

As the UN summit on climate change is about to begin in Doha this week there will be an increased focus on the renewable energy plans of the fossil fuel rich countries around the Gulf.

Using this increased focus to gain positive attention it is unsurprising to note that several states have come out with new plans to accelerate investment in renewable energy, and advance the battle against climate change, including Qatar, Abu Dhabi, and Dubai.

Saudi Arabia has announced that it is ready to begin work on its first ever major solar project at the beginning of next year. Khalid al-Suliman, the vice president of the King Abdullah City for Atomic and Renewable Energy, has stated that everything is set to go on the ambitious solar strategy, which will see 41GW installed by 2032 at a cost of $109 billion, they are now just waiting for final approval from the government.

Related Article: New Technology Uses Nanoparticles to Turn Solar Energy into Steam

The first solar installation is expected to be up and running by 2015.

At the same time it was also reported that Saudi Arabia will move forwards with its $100 billion plans to build up to 17 new nuclear reactors over the next 20 years.

By. Charles Kennedy of Oilprice.com



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