Saudi eyes large jump in renewable output by 2020

[bananas]

http://www.arabianbusiness.com/588635-saudi-eyes-large-jump-in-renewable-output-by-2020

Saudi eyes large jump in renewable output by 2020
Wednesday, 19 May 2010

Top oil exporter Saudi Arabia believes renewable sources could account for up to 10 percent of its power output by 2020 with prices coming down and a regulatory framework in place, an executive from state oil giant Saudi Aramco said.

Ahmad al Khowaiter, director of the new business evaluation department at Aramco, said:"The proposed target is between 7 to 10 percent of peak electricity generated by renewables by 2020, most likely solar...that represents roughly 5 gigawatts by 2020. Can we achieve that target? It's feasible."

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The kingdom, which benefits from abundant intense sunshine, had said it was looking to start exporting power from solar energy by 2020.

<snip>

Speaking to reporters, Khowaiter said: "We believe large scale power generation from solar can be achieved near the end of this decade, near 2020. Beyond 2020, the economics will be clearly in the favour of deployment of solar power."

<snip>

[polichick]

1. They're no fools - seems only we are. nt

[Statistical]

2. Saudi goal is 10% renewable by 2020.

US is already well past that today and will grow even more than that by 2020.