Solar Boom Forecast for Saudi Arabia
As many anticipated, the Saudi Arabian solar market is a reality and will lead the MENA region for the next five to ten years. We have seen many internal movements in the last few months which anticipate a solid and powerful market to focus on. The increasing energy needs and job generation objectives will drive this development despite oil prices. A great opportunity intended mainly for Saudi companies, leaving a door open for international players willing to bring value to the Kingdom and to stay. Read more in Renewable Energy Worldcontinue reading →
Dubai and Saudi Arabia-based Abdul Latif Jameel Energy has acquired Fotowatio Renewable Ventures (FRV), including its global 3.8 GW pipeline of PV projects. This acquisition is a natural next step in its multi-year energy strategy and follows the successful joint venture partnership announced between the two companies in January 2014 and could not be the last one. The acquisition is a key part of Abdul Latif Jameel Energy and Environmental Services’ push into becoming a global independent power producer, with the company indicating that it intends to support the MENAT region´s adoption of renewable energy. President Mohammed Abdul Latif Jameel indicated that it may be the first of a number of acquisitions in the renewables sector.
