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Indian Consul General Md. Noor Rahman Sheikh highlighted the advantages and need to go green, especially with the abundant availability of the natural and renewable solar energy at a 2-day session on “Photovoltaic Solar Power – Opportunities in Saudi Arabia and India” at the Consulate’s premises.
Speaking about Vision 2030 that also aims to diversify fuel-based energy to include renewable energy, Sheikh said, India could be a great partner in this. He also highlighted India’s 2022 target of producing 175 GW Renewable Energy in which 100 GW would be from Solar Energy at the soft inauguration,
Speaking about the world’s largest Solar Power Plant in Rewa district of Madhya Pradesh, which on completion would produce 750 MW of clean green energy, he said, Rs.2.75 per kwh for this plant is the lowest price in India so for. He also invited Saudi investments in this sector.
Saudi Indian Business Network (SIBN), Jeddah, in association with Consulate General of India organized the event. Dr. Mohammed Nurul Hasan, Consul (Commerce) welcomed guest and audience. He also briefed how SIBN and Consulate Commercial section is promoting bilateral trade between Saudi Arabia and India and the government initiatives and support towards solar energy.
Syed Majeedul Hasan informed all on the recent developments and opportunities being offered for roof top solutions for Saudi Arabia as well as India. He added that the Indian government’s recent targets of moving from 20GW to 40GW solar capacity by 2019 is really challenging and encouraging one.
Vijay Soni conducted quiz competition among participants on the first day of the event. The quiz revealed simplicity of the technology and its current state in India and Saudi Arabia highlighting ever growing interest and reducing cost of solar power from 25 US cents to 2.42 US cents over a period of last 10 years a reduction of almost 90%. Sheikh presented mementos to the winners of the quiz.
Musaab Muhaidib welcomed guests on day two, stressing the importance of solar energy and business opportunities in both the countries showing huge potential for collaboration, while opening up the floor for the speakers to stress the need to go green.
Deputy Consul General Shahid Alam, while lauding SIBN’s efforts, highlighted how the technology can be better used in bringing the energy costs to an affordable level especially solar energy – wherein the opportunities in India and KSA are huge.
Ms. Yara Anabtawi, executive director – ACWA Power, said the event could be a launching pad for them to look at India to partner in the development of solar energy and other renewal energy using their expertise. She added that the cost of solar energy has been on the declining trend much faster than expected and it is difficult to lay down a standard cost component for the same. “It is changing so fast that it is being reviewed / revisited almost on a monthly basis,” she said.
Majeedul Hassan gave a brief presentation about PV Solar opportunities in India explaining to the Saudi delegates about different states and approaches of the state governments and the central government in the form of renewable energy goal of India of 175 GW by 2022 of which 100 GW is from solar energy.
Yogesh Birla, managing director of Birla Power, addressed the audience through video conferencing. He said “India’s solar mission started in 2008 with more than 9,000mw solar projects installation and target to achieve 40,000mw in coming years. State governments are providing necessary land for installation of solar project, with connectivity to power transmission lines, with minimum transmission losses and highest solar panel yield.
“IRR of 25 years generation of power ranges from 10% per year to 15% per year. Solar project return-on-investments are available with full safety, secured returns for 25 years through power purchase agreements and innovative technology.
“The expertise of Indian projects can be used in Saudi Arabia for setting up of industrial mini-grid projects, rooftop projects and solar devices industries. There’s a huge potential for setting up of solar panel projects in Saudi Arabia, wherein import substitute solar panels can be manufactured locally having huge market in all over KSA and the neighboring countries.”
He stressed on the fact that the cost per unit of solar power has reduced from Rs.17-18 in 2008 to Rs.3- 4.30 at present in India. He also said the yield is much higher than on the yield from government bonds which is in the range of 6.25%, while the return in US is around 0.3%. Hence it makes sense to invest in India where the potential is huge.
Khalid Sharbatly, co-founder-Icon Energy, said, “I believe the most fundamental part in the renewable energy industry, that it is an effective cost saving machine, it is an industry that works on doing “good” which is a corporate social responsibility. The Paris Convention made 192 countries sign a treaty that they will transform a big part of their energy into clean energy. This led Saudi Arabia to include renewable energy in its 2023-2030 vision. KSA is expected to produce 9.5 GW. Along with the increases in the tariffs, it is expected that the commercial and residential market demands will increase on an exponential level in the next 5 years.”
Nour Mousa, CEO, Desert-Technologies, said that in next 23 years solar power business will be to the tune of $3.7 trillion in the world, of which MENA and SE Asia region would be around $2.5 trillion.
Rahul Goswami, senior legal consultant, Law Firm of Hassan Mahassni, said “There are lot of exciting developments in the Saudi Arabian renewable energy arena with the recent launch of the first PPP Renewable Projects-namely, the 300 MW ac Sakaka Solar Projects and the 400 MW Midyan Wind Project. Request for Qualification (RFQ) for the above projects were issued by Renewable Energy Project Development Office (REPDO) under the Ministry of Energy, Industry and Mineral Resources (MEIM) recently on Feb. 20. This is in line with the commitment to develop 9.5 GW of renewable energy by 2023 and reduce Saudi Arabia’s dependency on oil as stated in the Vision 2030. REPDO will supervise the execution of the Projects.”
Prof. Jr-Hau shared KAUST Solar Center’s efforts in relation to making stable and sustainable PV Modules for the desert environment with silicon heterojunction technology, which provides high temperature tolerance and very high performance along with self-cleaning thermoplastic coatings that drastically decreases cleaning cost.
The opportunities were discussed with Ms. Yara Anabtawi, Khalid Sharbatly, Nour Mousa, Rahul Goswami, Majeedul Hasan in the panel and an expert audience. The discussion was moderated by Vijay Soni.
Usage of generators in small-scale enterprises especially during peak hours being a costly option, these units can make use of the solar power, was acknowledged by the panelists.
“Current lowest solar power bidding of $0.024 in Abu Dhabi, $0.045 in India against approx. conventional electricity cost of about $0.08 in KSA with expected rise in fossil fuel supported electricity cost raises interest to go in depth discussion on how the pricing works and SMEs can play a role to take forward the green initiative in various capacities.
“Expected new lower solar tariff discoveries, price disparities and long term sustainable returns for 25 years horizons in two digits demands another full day workshop with expert panelist to decode the social and business opportunities with cross country collaborations,” said Soni.
Alam later honored the panelists and some of the key contributors to the event with mementos. Anabtavi, Mousa, Sharbatly, Goswami, Hasan, Soni, Gazanfar Zaki, Viquar Ahmad, Krish Jangal and Amjad Shareef were honored.
Zaki, general secretary, SIBN, delivered vote of thanks. Mohd Bin Naser, CEO, MBN Luxury Lines and his team were thanked for their cooperation and sponsoring of the event. MBN Luxury lines, Jeddah, supported the event.
