Saudi Arabia Plans $109 Billion Investment in Solar Power
Saudi Arabia is looking for investors for a $109 billion plan to create a solar industry that generates a third of the nation’s electricity by 2032 according to bloomberg.
The plan is to have 41,000 megawatts of solar capacity within two decades, nuclear, wind and geothermal would contribute 21,000 megawatts.
The government is targeting 25,000 megawatts from solar thermal plants, which use mirrors to focus the sun’s rays on heating fluids that turns a power turbine. Another 16,000 megawatts would come from photovoltaic panels
Ka-care a government agency set up in April 2010 to oversee the nation’s renewable energy strategy. estimates Saudi Arabia’s peak electricity demand will reach 121,000 megawatts in the next 20 years, with half of that power generated using hydrocarbon fuel. with half of that power generated using hydrocarbon fuel.