“We expect Saudi Arabia will be the largest market in the region in the medium- to long-term,” said Sami Khoreibi, the founder and chief executive officer of Enviromena Power Systems, a solar developer based in Abu Dhabi.
“You take a look at the opportunity cost of using crude oil for electricity production and you have a very high operating expense, and the power demand growth in Saudi Arabia is one of the largest in the region.” Saudi Arabia’s on-again, off-again pursuit of solar energy has already shown signs of picking up in the past six months, with the kingdom struggling to patch budget holes and map future economic diversification.
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The victim’s family were offered financial compensation in return for not demanding the death sentence but they refused, Al-Arabiya reported.The method of execution remains unknown but the majority of those who are put to death in Saudi Arabia are beheaded with a sword.The prince pleaded guilty to shooting his compatriot after an argument erupted at a desert camp on the edge of Riyadh three years ago.Saudi Arabia’s long-awaited drive to free up more oil revenue by shifting to solar power generation is expected to pick up speed next quarter, according to local developers eyeing contracts.“I’m fully expecting within the first quarter 500 megawatts to come out in tenders and then it’ll ramp up,” said Paddy Padmanathan, the chief executive officer of Acwa Power International in Riyadh.
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