ArabianBusiness.com - Middle East Business News
Friday, 27 November 2009 08:20 UAE time

YOUR DIRECTORY /

| Share |

Saudi looks to become solar powerhouse

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 02 March 2008
ALTERNATIVE ENERGY: Al-Nuaimi said solar was one of the most important sources of energy for Saudi to develop. (Getty Images)

Saudi Arabia, the world's biggest oil exporter, plans to become an expert in another, cleaner field of energy by investing in solar power, the country's oil minister said in an interview released Sunday.

"For a country like Saudi Arabia... one of the most important sources of energy to look at and to develop is solar energy," Ali Al-Nuaimi told French oil newsletter Petrostrategies.

He added: "One of the research efforts that we are going to undertake is to see how we make Saudi Arabia a centre for solar energy research and hopefully over the next 30 to 50 years we will be a major megawatt exporter.


Story continues below
advertisement

"In the same way we are an oil exporter, we can also be an exporter of power."

Saudi Arabia produces more than 10 million barrels of crude oil a day.

Al-Nuaimi said that Saudi Arabia was also set to invest in carbon capture and storage programmes to develop technology allowing carbon dioxide to be extracted from the atmosphere and stored underground.

"There are a lot of countries that are willing to cooperate with us," he said.

At a summit in Riyadh last November, Gulf Opec members pledged $750 million to a new fund to tackle global warming through financing research for clean technologies, with the emphasis on carbon capture and storage.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

 EMAIL ALERTS

  1. Energy


Tell us your story

READER COMMENTS

  1. Deal sought on Dubai World, Nakheel debts 19
    26 Nov ' 09 at 20:13
    Red Devil/Sandjocky, I have also had several posts blocked over the past couple of days, posts that speak of the facts only as they...   More  »
  2. UAE real estate market has now hit bottom - analysts 05
    26 Nov ' 09 at 21:36
    Comn' AB is a yo-yo when it comes to news.People forecasting good and then bad. Good and bad and then some more "experts" saying...   More  »
  3. Moody's cuts Dubai GRI ratings amid debt delay 02
    26 Nov ' 09 at 19:51
    Dubai World better change its slogan & reposition itself - Dubai LTD.   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM