Friday, 11 July 2014

Niki Cutts: Are there renewable energy opportunities in Saudi Arabia?

Saudi Arabia - is the home of oil, where millions of barrels of oil are pumped from the ground every day and the nation is a pivotal player in OPEC. Despite this, Saudi Arabia is set to be a net imported of oil in 12 years. A population explosion had led to oil consumption rocketing.

Even with its vast oil supplies, it is forecast that Saudi Arabia will start importing energy in the not too distant future. Renewable energy is therefore expected to become an important part of energy production in the future. This will present interesting opportunities for foreign companies already active in this market.

Niki Cutts is the Managing Director of CastleWard.