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Saudi Arabia to establish power buying firm for renewable energy
- Saudi Arabia: Thursday, January 17 - 2013 at 04:40
Saudi Arabia's King Abdullah City for Atomic and Renewable Energy (KA-CARE) has announced plans to set up a company to buy power from generators of renewable energy and to cover any cost difference between the purchase and sale prices, Saudi Gazette has reported. "There will be an offtaker and the offtaker will sell to a distribution company," Khalid Al Sulaiman, vice president at the KA-CARE told reporters at a conference in Abu Dhabi. "That offtaker will have to pay the difference between the cost of the electricity and the price the distributor pays."
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