This is interesting. Saudi Arabia is into solar.
Why? Two reasons:
1) The less oil the Kingdom uses for internal energy needs, the more oil it can offer for sale.
2) Saudi Arabia is trying to diversify beyond oil as its primary source of income.
The following article articulates these concerns …
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[Excerpt]
Power Engineering (3/28/2018)
SoftBank, Saudi Arabia Announce 200GW Solar Power Project
By Yuri Kagey Ama, AP Business Writer
TOKYO — SoftBank Group Corp. Chief Executive Masayoshi Son announced Wednesday a $200 billion solar power project in Saudi Arabia.
The project is in cooperation with the kingdom's young Crown Prince Mohammed bin Salman, a partner in the SoftBank Vision Fund, set up in 2016. The fund has already invested in companies in the U.S., India and Europe.
The project will create 100,000 jobs, reduce Saudi Arabia's dependence on oil for its electricity, which it can sell internationally instead, and will generate 200 gigawatts of electricity by 2030.
The kingdom, which is one of the world's largest oil producers, estimates its local energy consumption will increase three-fold by 2030. To build up its renewable energy sector, the crown prince has outlined an initial target of generating 9.5 gigawatts of renewable energy in his "Vision 2030" plan, which is a blueprint of mostly economic targets aimed at creating more jobs for the country's majority young population entering the workforce in the coming years and diversifying the economy away from its reliance on oil exports for revenue.
source: https://www.power-eng.com/articles/2018/03/softbank-saudi-arabia-announce-200gw-solar-power-project.html?cmpid=enl_pe_power_engineering_e-newsletter_2018-03-30&pwhid=fbb3b98234182a858d7452aaeb2352fd676b018996c245cce35cee6794d491dd653e34c791233f616b44fed7512e3d0b5711466d118a2f0bb813f6dc04631921&eid=406459121&bid=2052402
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TIP: Pay attention to stuff that’s happening outside your particular realm … because realms intersect.
Why? Two reasons:
1) The less oil the Kingdom uses for internal energy needs, the more oil it can offer for sale.
2) Saudi Arabia is trying to diversify beyond oil as its primary source of income.
The following article articulates these concerns …
///////
[Excerpt]
Power Engineering (3/28/2018)
SoftBank, Saudi Arabia Announce 200GW Solar Power Project
By Yuri Kagey Ama, AP Business Writer
TOKYO — SoftBank Group Corp. Chief Executive Masayoshi Son announced Wednesday a $200 billion solar power project in Saudi Arabia.
The project is in cooperation with the kingdom's young Crown Prince Mohammed bin Salman, a partner in the SoftBank Vision Fund, set up in 2016. The fund has already invested in companies in the U.S., India and Europe.
The project will create 100,000 jobs, reduce Saudi Arabia's dependence on oil for its electricity, which it can sell internationally instead, and will generate 200 gigawatts of electricity by 2030.
The kingdom, which is one of the world's largest oil producers, estimates its local energy consumption will increase three-fold by 2030. To build up its renewable energy sector, the crown prince has outlined an initial target of generating 9.5 gigawatts of renewable energy in his "Vision 2030" plan, which is a blueprint of mostly economic targets aimed at creating more jobs for the country's majority young population entering the workforce in the coming years and diversifying the economy away from its reliance on oil exports for revenue.
source: https://www.power-eng.com/articles/2018/03/softbank-saudi-arabia-announce-200gw-solar-power-project.html?cmpid=enl_pe_power_engineering_e-newsletter_2018-03-30&pwhid=fbb3b98234182a858d7452aaeb2352fd676b018996c245cce35cee6794d491dd653e34c791233f616b44fed7512e3d0b5711466d118a2f0bb813f6dc04631921&eid=406459121&bid=2052402
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TIP: Pay attention to stuff that’s happening outside your particular realm … because realms intersect.
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