"Saudi Arabia in Policy Shift Seeking Solar Through Aramco"

"Saudi Arabia’s state-owned oil company is planning to add more solar power, a move to limit domestic fossil-fuel consumption in the world’s biggest exporter of crude.

“We are looking at solar investments with great interest,” Chief Executive Officer Khalid Al-Falih of Saudi Arabian Oil Co. told a conference in Bahrain.

The comment suggests that authority over renewable energy in the kingdom may be moving toward Aramco, which has for decades managed built up Saudi Arabia’s oil industry and has the expertise to manage giant contracts with Western companies."

Wael Mahdi reports for Bloomberg News May 19, 2014.

Monday, May 19, 2014