13 replies to this topic

[Phil]

Big as in $109 billion big!

http://www.bloomberg...olar-power.html

[FamilyTreeClimber]

This is a really big undertaking!  The article says that they have very little solar energy production.  They'll be making a solid commitment.

Isn't it interesting that one of the biggest oil producers is looking for ways to reduce dependence on oil.  Why does this strike me as odd when all we hear in the US is how our only way to survive is to produce more oil.

Saudi Arabia certainly has the sunshine.  Solar seems a perfect fit for this landscape.

[Shortpoet-GTD]

What I took away from the article too is the sense of optimism they have, and the other area's involved-
Egypt, Tunisia-
thinking about a safe future, instead of being mired down in wars.

[artistry]

What a progressive approach, from an unexpected source. This is excellent and very forward thinking. Good to see this from the Saudi country. Great report. Thank you.

[dissn_it]

I am surprised that they are willing to pursue alternative energy sources. I am not too keen on their nuclear pursuits though, 16 new reactors by 2030!

[Hardison]

The is awesome news. One third of their electricity is to be generated by solar. They are also working on geothermal and wind energy. That's downright impressive.  I'm also not exciting about the nuclear energy part of the equation. It's ironic that the world's leading oil producing country is leading the way in alternative energy.

[zararina]

That news really sounds so optimistic and nice for them that they can really spend such huge money for such greener project.
They could have good source as they weather there seems fit for such project. Hope that project will really be successful to generate enough electricity for the countries involved there.

[nizamnrgz]

I hope to see more country will do the same and $109 billion is really huge amount of moolah! I wonder why don't they dump some of the money to other form of energy?

[Phil]

They pump the oil out of the ground for $9/bbl and sell it for $99/bbl, now that solar is so cheap it's a wise business move.  Going forward oil is only going higher while solar is going lower, they are saving their oil to sell it at high profit margins.  You can accuse the Saudi's of many things but being bad businessmen is not one of them

I'm not sure how much wind they have there so it's oil, nuclear, and solar.  Actually I'm surprised they took this long but now the economics are too good to ignore.

I'm not a big fan of nuclear either, particularly in the middle east.  Dirty bombs can be totally disrputive and don't require weapons grade materials or expertise.

[steph84]

That is amazing! I love that they are doing this and utilizing all of that sunshine they get. It's a smart and practical idea on their part. I can't wait to see what everything looks like when it is all done.

[Phil]

Hopefully this will inspire their neighbors to follow suit.  There is no shortage of sun in the area!

[joeldgreat]

They should be the ones to become models of solar power and other alternative source of energy. As the depletion of fossil fuels are now coming to an end, so thus the end of these big oil cartels. What else would they sell to the world if their countries rich oil deposits are depleted. Therefore, it would be appropriate that they should come up with a better solution for their country's survival in the near future. I hope that I'll still be here to see some marvelous works of generating atlernative energy for the future.

[E3 wise]

Why use oil themselves when we have a continuous market everywhere else.  They are going with alternative energy so they have more to selll to everyone else, thats competetive advantage.

[Phil]

Totally agree.