Saudi Arabia will start receiving bids to install solar energy production cells from next Sunday, according to reports from the kingdom.
The Saudi Electricity and Co-Generation Regulatory Authority is launching an initiative to encourage set-up of small-scale solar energy systems.
Under the plans, solar power companies will be able to sell off surplus energy they generate to the national grid, or to be deducted from their energy bills.
The authority is allowing both local and international companies to register to participate in the project, which is part of the kingdom’s Vision 2030 plans to diversify the economy away from oil.
Arab News quoted Abdullah Al Shehry, governor of the Electricity and Co-Generation Regulatory Authority, as saying that a team of experts is developing the regulations needed to launch the project.
And he said the submission of initial online applications will start next Sunday to limit the number of subscribers.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.