Saudi Arabia is already getting ahead of its energy needs with plans to integrate renewable energy into desalination projects and boost efficiencies in other energy-intensive industries, said a top industry expert.

"The kingdom is moving into renewable energy to inject greater longevity, affordability and accessibility into power and water sectors. An ambitious move, but it is ideally positioned to see this through,” said Paddy Padmanathan, the president and CEO of Saudi-based Acwa Power, a leading developer, investor, and operator of a portfolio of power generation and desalinated water production plants.

About 40 per cent of the electricity needs in Saudi Arabia could be fulfilled with renewable energy options and there are fiscally sound ways to achieve this, he stated.

Acwa Power will be taking part in the World Future Energy Summit (WFES) 2017.

Padmanathan and Acwa Power managing director Thamer Al Sharhan will be examining Saudi Arabia’s power and water sectors - two segments headed for substantial growth in the coming years.

Under the vision of King Salman bin Abdulaziz Al Saud, Saudi Arabia will invest heavily outside upstream oil and gas industries, increasing the competitiveness of the power and water industries and reducing energy usage across the country.

During the summit, both Padmanathan and Al Sharhan will weigh in on these changes during a conference segment that drills into the topics of the day.

Padmanathan will take up the issue of renewable energy, laying out the kingdom’s financing options and mapping its avenues to cost mitigation and control, while Al Sharhan will highlight how the kingdom can go beyond diversifying its energy mix to transforming it.

"Using a model that Acwa Power has articulated over many years, developers and off-takers can set new tariff benchmarks and shore up capital at this important juncture," stated Padmanathan.

Al Sharhan will sit on an earlier Insights panel, where he will offer technical expertise.

Commenting on the event, he said, “WFES attracts prestigious international audiences, and am delighted to be able to address them on a panel of this calibre. The dynamics of power and water are changing Saudi Arabia, and what is happening - and will happen - there will be instructive for the rest of the world.”

This year’s World Future Energy Summit will be held during Abu Dhabi Sustainability Week, a global platform that addressing roadblocks to the acceleration and adoption of sustainable development and clean energy.-TradeArabia News Service