NEW YORK, August 19, 2013 -- In the current issue of Electric Energy T&D magazine, Baker Botts L.L.P. Partners Stuart Solsky and Stephen Matthews discuss Saudi Arabia’s Plan to Procure up to 54 GW of Renewable Energy.
The Kingdom of Saudi Arabia (“KSA”) is pursuing an ambitious strategy to diversify the country’s energy portfolio over the next 20 years by procuring up to 54 gigawatts (“GW”) of electrical energy from renewable sources. The initiative is intended to diversify the country’s energy mix, introduce renewable energy as a major component of that energy mix, reduce the country’s reliance on fossil fuels and diversify the Saudi Arabian economy. It will be implemented and overseen by the King Abdullah City for Atomic and Renewable Energy (“K.A.CARE”).
In their article, Solsky and Matthews discuss K.A.CARE’s white paper and symposium, the bidding process and selected issues to be considered by potential investors. These selected issues include corporate structure, the site, local content, proposal security and power purchase agreement.
The complete Electric Energy T&D article is available here.
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