US and KSA Sign “Renewable Energy Projects” Deals

US Assistant Secretary of Commerce for Manufacturing and Services Nicole Lamb says the United States and Saudi Arabia are prepared to sign a number of deals related to the establishment of investment and service projects depending on renewable energy resources.

The US official, who is leading a 13-member business delegation to the Kingdom, expressed US support to the Kingdom on its drive to develop clean energy and that they are waiting for bigger cooperation between the two countries to realize goals put forth by the Kingdom.

She said the US administration and companies as well are concerned over the creation of investment opportunities with their Saudi counterparts, particularly on projects depending on renewable energy.

The US will extend multiple services to the Kingdom in its pursuit to lessen dependence on oil for power generation and development of alternative energy sources, environmentally secure and highly credible, particularly in light of growing demand on energy in the Kingdom, she said.

She noted that the Kingdom’s announcement of investment of $100 billion in the next 10 years for development of solar and nuclear energy will help the US business delegation explore investment opportunities in the Kingdom and strengthen ties between the two countries.

The US official, who met with Saudi officials and businessmen at the Council of Saudi Chambers of Commerce and Industry (CSCCI) touched on efforts that could be made by Saudi trade partners in solving issues related to the renewable energy in the Kingdom.

CSCCI Secretary General Fahad Al-Sultan said Saudi-US relations were built on strategic basis during the last 10 years, as Arab News stated.

He said their meeting with US delegation explored suitable mechanisms for cooperation between business sectors in both countries.

The meeting centered on three themes: Kingdom’s energy needs and its five-year plan, the Kingdom’s vision on renewable energy, and the Kingdom’s concern over building clean energy system, he noted.

He affirmed that the Kingdom has clearly opted to depend on knowledge-based economy