"I have certain reservations about KA CARE. So many people are coming to Saudi Arabia because they know that there is going to be demand for 43 gigawatts of renewable energy in Saudi Arabia by the year 2030," says Emad Al-Shamma, CEO of Al Khafrah Group Holding Co.
However, "KA CARE is slow to establish the regulations for these projects. Everyone is sitting and waiting for this... Now, I think the initiative is for the private sector to go forward and start their investment in renewable energy because in two or three years' time when their plant will be ready, KA CARE should be ready with their agreements. Sooner or later, they will buy the electricity. The issue now is about the pricing per kilowatt-hour."
