From Oil to Solar: Saudi Arabia Plots a Shift to Renewables - The New York Times    

written by Stanley Reed. added over 1 year ago by @icyflame ARCHIVES

saudi-arabia middle-east oil renewable    

Saudis rely on air-conditioners for much of the year, and the scorching Arabian summer sends demand for power soaring. Much of that electricity today is generated at power plants fueled by oil. ... Had it been sold overseas, that crude could have added $47 million a day to government revenue, at current prices. Selling oil internationally is central to funding the Saudi budget. The terms of the Sakaka project’s auction required that developers pay the upfront cost of the solar farm, in return for payments for the power they supply to the grid. That would allow Saudi Arabia to continue focusing on producing and exporting oil while it makes the shift to cleaner power.

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