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Saudi Arabia to Invest in $109 Billion for 41GW of Solar Power Generation by 2032

published: 2014-04-21 16:57

The Kingdom of Saudi Arabia announced for Saudi Energy 2014 that the nation plans to invest US $109 billion to generate 41GW of solar energy by 2032, representing almost 30% of total energy demand by that time.

Saudi Energy 2014, the International Trade Exhibition for Electricity, Power Generation, Alternative Energy, Water Technology and Lighting, will take place in the Kingdom of Saudi Arabia during May 26th and 28th at the Riyadh International Convention and Exhibition Center. Saudi Arabia, one of the most potential PV markets in the world, unveils its plan to establish and facilitate PV projects by investing US $109 billion to generate PV power. By 2032, when the projects are completely established, the projects with capacities of 16GW and 26GW may bring the Kingdom to be one of the world’s largest PV power producers.

Saudi Energy 2014 is a marketplace for energy related industries and companies to promote their products and services. It also offers an opportunity for PV industry insiders to explore the lucrative Saudi Arabian market and figure out directions to invest.

"The Kingdom of Saudi Arabia is witnessing a major development in the area of alternative energy, with strategic plans being implemented and key projects being undertaken to meet the increasing demand for energy,” said Fahad Al Athel, Deputy General Manager, Riyadh Exhibitions Company. “Saudi Energy 2014 will make a definite contribution towards this transformation by offering a gateway for international experts to network with local players to discuss the latest industry trends, explore business prospects and opportunities of mutual cooperation."

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