Saudi invests in R&D for renewbales and nuclear

Saudi is looking at alternative energies.

Saudi Arabia is to set up a s, the state news agency SPA reported on Saturday.

King Abdullah ordered the creation of a science complex named after him which would be headed by former trade minister Hashem Bin Abdullah Yamani, writes SPA.

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The agency gave no more details or timeframe for the project other than that the complex would be based in Riyadh.

The centre would be in charge of promoting research and sealing future deals, and would also oversee activities related to the use of nuclear energy, said the news agency.

It added: "The kingdom is witnessing sustained growth in demand for power and desalinated water due to high population growth and subsidised prices of water and power."

"Thus the use of alternative, sustainable, reliable sources to produce electricity and desalinate water reduces reliance on hydrocarbons extends the lifespan of hydrocarbon resources and preserves it as a source of income for a longer time."

Demand for power grew last year by more than 8 percent in the Gulf state and is expected to grow to more than 60,000 megawatt by 2020.
Saudi Arabia is investing $80 billion to boost installed power generation capacity to around 67,000 MW by 2020, up from 46,000 MW now.

The news comes on the same day Kuwait signed an agreement with France to develop its nuclear energy sector.