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CleanTechnica Site lauds the Agreement of Science & Technology. Saudi Electric Company and Taqnia for Energy

A report released by CleanTechnica website commended the recently concluded agreement by the King Abdul Aziz City for Science and Technology (KACST), Saudi Electric Company (SEC) and Taqnia for establishing a solar energy plant at a completely unsubsidized price of 0,049 USD/kWh considering this price as the least globally. The report, issued by the 1st cleantech-focused news and analysis site in the USA and the world, confirmed that Solar energy prices are continuing to fall rather rapidly around the world, but especially in the Middle East highlighting that KACST and SEC will work together to create a new solar energy research center while Taqnia for Energy and KACST are currently working together on a solar desalination facility accompanied by a 40 MW capacity solar photovoltaic (PV) facility that will provide the needed electricity. The report underlined that Saudi Arabia is aiming to invest upwards of 400 billion Saudi Riyal into solar energy in the coming years — as a means of keeping up with growing electricity demand, and also as a effective tool to decrease local oil use, expecting the figure of 5¢ (0, 19 SR) to fall a fair bit more, given the very high solar insolation levels that the Kingdom receives though much of this depends upon other factors, such as the investment climate and the economic state of the region. The report cited a number of solar energy purchase deals on the world level during the period 2013/2015, pointing out that the alliance between KACST, SEC and Taqnia for Energy is the world least expensive in the world yet.