Saudi Arabia has announced an ambitious goal of reaching 41GW of solar power generation capacity by 2032 (25GW of concentrated solar power (CSP) and 16GW of Photovoltaic (PV).
A 9GW wind energy capacity is also being envisaged. Building up energy generation capacity will be a major field of investment in the future.
The Renewable technology exhibition of German embassy concluded on Friday at the Tea Garden of the Intercontinental Hotel Jeddah.
The German Embassy in Riyadh, with the cooperation of the German Consulate General in Jeddah, Green Gulf and Saudi Arabian Liaison office for economic affairs in Riyadh (GESALO), organized this 3-day poster exhibition of the German Energy agency DENA on "Renewable Energy Made in Germany" in the framework of the 18th annual conference of the United Nations to discuss climate change.
The exhibition of Renewable energy in English and Arabic was established with the aim to spread awareness on renewable energy, its uses and benefits. The exhibition provided generic information on renewable energy. The Saudi Arabian Liaison office was standing by to assist with any concrete business to business request. The exhibition also included promotional posters of German and Saudi companies such as Phoenix Solar and Green Gulf that operate in the solar field.
Yaghmour said Green Gulf will be the first industrial initiative in the Arabian Peninsula to extend the solar energy value chain beyond the production of polysilicon.
"Very soon, we will produce raw material for polysilicon by setting up an ingot and wafer plan which will be fully operational by 2015 and produce solar modules or panels by the end of 2013. We will be the first localized industry which will create new jobs, develop experience and build products that is suitable for our climate and environment," he added.
Yaghmour said they and other companies are planning to start projects on planting renewable energies in 2013 which will help in creating 1000 jobs in this sector. "With the starting of our project in 2013, we will create 320 jobs of which 50% will be given exclusively to Saudis," he said.
The DENA posters explain the political and legal framework for the success of renewable energy in Germany, the operating principles behind wind power, photovoltaic, solar thermal, bio-energy, hydropower and geothermal energy and the advantages of these technologies in terms of climate change mitigation, costs, availability, reducing risks for security and economic development.
"Renewable energies are not only a factor in combating climate change and its consequences also help to save mineral resources as raw material for the petrochemical industry rather than energies can also contribute to diversify industry and to create jobs," said Peter Hofmann, Counselor of Economic Affairs at the German Embassy.
Germany, like any other major industrialized country, is committed to building a significant energy"generating capacity based on renewable energies and is growing fast. The exhibition gave an insight in to the German renewable energies philosophy. Almost 20 percent of the electricity in Germany is now produced from renewable sources. German Ambassador Dieter Haller stated that "Germany is willing to set an example in climate protection and renewable energy has evolved into a highly innovative industry.
"Saudi Arabia has vast potential for the renewable energy, especially solar power which is being promoted by the Kingdom," said Hofmann.
He also said that the other reason behind organizing the exhibition was to strengthen the ties between the two countries.
"Bilateral trade figures have increased in the past 6 months, but we want to build partnerships between German technological firms and Saudi companies, where we not only transfer technology but train Saudi youth. Next year the first panels will be installed and we will know how to operate the plants and maintain them," he added.