Saudi Arabia is transferring within the spirit and text of the project. It says it depends on the private sector a lot as it chose it as a major partner to provide key services in terms of Energy, Education, Healthcare, education, transportation and other Sectors to achieve the goals of the National Transformation program and Vision 2030. Energy sector, particularly Renewable Energies is where most of the investments are projected to be concentrated.
Saudi Arabia’s National Renewable Energy Program (NREP) is a long term, multifaceted renewable energy strategy designed to balance the domestic power mix in order to deliver long term economic stability and prosperity to the Kingdom, whilst working towards carbon reduction commitments. The NREP is managed and executed by the Ministry of Energy, Industry and Mineral Resources (MEIM), directly supporting Saudi Arabia’s National Transformation Program (NTP) and Vision 2030.
Saudi Arabia’s renewable energy market is set for growth, supported by an abundant solar resource, land availability, an A-rated sovereign credit, and strong economic and strategic logic. The Kingdom’s plans are in line to achieve the VISION 2030 that was announced last year with a desire to diversify the energy mix and take advantage of the compelling economics of renewables especially solar and wind, in the country. As government finances come under pressure in the low oil price environment, the Kingdom is seeking to reduce subsidies for oil consumption and encourage clean generation technologies.
Not with standing the slump in the global oil prices , Private capital Investment can be of tremendous influence in financing power sector in the Kingdom of Saudi Arabia. Public Private partnerships would play a major role in development of renewable Energy generation and infrastructure. With a highly ambitious plan laid out by the Ministry of Energy, Industry and Mineral Resources, the kingdom is looking for development of Private sector. With extended support from the ministry, the project is largely aimed to realize the well-being of all the stakeholders of the energy sector from policy makers to government authorities to end users and suppliers under one roof to discuss and understand the way forward and what’s in it for each of us.
Emphasis would be laid on the following areas:
- Project Approval Process.
- Tariff Approval and Adjustment process.
- Credit Worthiness of the off taker.
- Contractual Compliance and Enforceability.
- Foreign Exchange Risk and Renminbi financing.
- Clear and Transparent regulations.
- Reforms in generation and Distribution sector.
- Focus on economic fundamentality’s of individual power projects.
- Risk assessment with power projects in KSA, by ensuring Transparency and predictability for Project development.
Functional areas lined up for Discussion:
- Global Technical and Infrastructural collaborations.
- Investments and outputs from Renewable Energy Generation.
- Market Outlook, Developing Trends and Future of renewable Energy in Saudi Arabia
- Power generation and transmission efficiencies.
- Smart Airport/Building Technologies
- Waste management and treatment at micro level
- Solar Fields Utilization.
- Solar Air Conditioning.
- Development in Efficiencies for Renewable Energy generation.
- Water Desalination using Solar Energy
- Developing trends in Hybrid Renewable Energy System
- Geo Thermal Energy
- Carbon Footprint Measurement And its impact on the Environment
- Green Information Technology.
Dr. Sukhvinder Badwal
Chief Research Scientist, Energy
Mr. Vishwas Prabhakar Pitke
Renewable Energy Expert IPP & New Venture Development Department
Saudi Electricity Company
Ms. Mayssam W. Tamim
Assistant Resident Representative United Nations Development Programme
Kingdom of Saudi Arabia
Mr. Carlos Jorquera
CEO & Founder
Jorka Energy EIRL (ltd)
World Bank, Chilean Geothermal Council and The Ministry of Energy in Chile
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