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Saudi Aramco mulling solar investments

: Wednesday, May 21 - 2014 @ 00:47

Saudi Aramco has announced plans to add more solar power, in a bid to limit domestic fossil-fuel consumption in the world’s biggest exporter of crude, Bloomberg has reported. “We are looking at solar investments with great interest,” Aramco CEO Khalid Al-Falih told a conference in Bahrain. Saudi Arabia needs to be patient in adding solar capacity and do it “slowly and carefully” to avoid mistakes like those made in European nations, which had to ratchet back subsides after creating an uncontrolled boom in solar panel installations, Al-Falih said. “We don’t want to go fast like Germany and Spain and then have regrets down the road,” he said.

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Wednesday, May 21- 2014 @ 0:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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