Reuters reported that Abu Dhabi government owned green energy firm Masdar is looking into investing in Saudi Arabia.

Mr Sultan Al Jaber CEO of Masdar said that "We are proactively seeking partnerships in Saudi. I can't tell how much now because it depends on the market and the regulatory framework but we are seriously and closely looking at the Saudi market."

Investing in renewable energy projects is an increasingly popular topic among the top oil exporters of the Middle East but actual green energy installations are few and far between.

Masdar has made significant renewable energy investments in countries where political and public support for clean energy brings with it big incentives especially in Europe.

But back in the United Arab Emirates, it has only around 10 MW of solar capacity up and running with 100 MW concentrated solar plant the worlds biggest under construction and another 100 MW planned nearby.

Saudi Arabia, the world's top oil exporter announced plans in May to possibly build up to 41,000 MW of solar power plants within two decades at an estimated cost of over USD 100 billion.

Source - Reuters

(www.steelguru.com)