A recent CSP Today webinar on the investment criteria for the emerging concentrated solar power industry in Saudi is now available for viewing.
The sixty minute webinar forecasted who the off takers would be and addressed the financial and legal requirements for CSP developers in the country. Reda El Chaar, Managing Director of Access Consultants, evaluated who the off taker of CSP in the country would most likely be and concluded that Saudi Electricity Company would be the largest whilst Saudi Aramco, amongst other utilities, would have a significantly smaller share.
Dan Bennellick, Associate Director at HSBC Saudi Arabia, outlined the bankability considerations and explained that the key requirements for raising limited recourse finance for projects are quality solar resource data and the availably of experienced solar operators in Saudi Arabia. Rob McNabb, Partner at Eversheds LLP also outlined the bankability considerations from a legal perspective, maintaining that fulfilling the high local content requirements and issues with ownership and property would be the biggest challenges.
An audience poll conducted during the webinar asked what the biggest financial challenge for developers in Saudi Arabia will be and there was an almost 50/50 tie between competing against conventional power projects and agreeing on commercial terms with banks.
You can listen to the full recording of the webinar and see the presentations by downloading it here for free: