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FINANCIAL NEWS
Saudi aims for high production capacity solar energy
30 Jul 2011
(MENAFN) Saudi oil minister, Ali Al-Naimi, said that the Kingdom would on the long term generate energy from solar resources at an equivalent capacity to the Kingdom’s oil exports generating capacity, reported SPA.
Al-Naimi explained that the country has enough resources that enable it to produce enough solar power to meet more than four times global demand for electricity.
The statement comes as Gulf countries are looking for ways to use less of their exportable oil and gas as fuel for power stations.
It is worth noting that Saudi Arabia boosted its oil production in the past months in order to compensate for the shortage in oil exports from Libya, caused by the political unrest that took over the country recently.
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