Saudi Arabia's First Solar Power Plant Comes Online

Discussion in 'Current Events' started by Margot, Oct 7, 2011.

  1. Margot

    Margot Account closed, not banned

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    In other news Atlanta kicked off a solar cap on top of a closed landfill...

    http://solarindustrymag.com/e107_plugins/content/content.php?content.8856

    Saudi Arabia's First Solar Power Plant Comes Online

    Thursday 06 October 2011


    The kingdom of Saudi Arabia has inaugurated its first solar power plant, according to the Royal Embassy of Saudi Arabia's Information Office.

    SThe 500 kW plant, located on Farasan Island, was constructed by the Saudi Electricity Co. (SEC) and Showa Shell Sekiyu K.K., a Japanese energy company partly owned by the Saudi Arabian Oil Co.

    This project is intended to be one of the many initiatives led by SEC to introduce clean energy throughout the Kingdom.

    Saudia Arabia is a prime location to harness solar energy because of its year-round sunshine.

    The sun in Saudi Arabia emits about 7,000 watts of energy per square meter over an average of 12 hours every day, according to the Embassy.
     
  2. Margot

    Margot Account closed, not banned

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    10/06/2011 @ 12:20PM |1,707 views
    Chevron Turns To Solar Energy For Oil Recovery, Stock Heading To $104

    Chevron recently launched a feasibility project to showcase the viability of using solar energy to enhance recovery from an old oil field.

    Chevron Technology Ventures demonstrated the use of solar power to boil water into steam using around 7,600 mirrors to concentrate the sun’s energy over a solar boiler. [1] The steam is then injected into the oil well to improve its productivity.

    Chevron competes with other oil majors such as Exxon Mobil, ConocoPhillips, BP and independent explorers such as Anadarko Petroleum.


    We have a $104 price estimate for Chevron which implies a 14% premium over its current stock price.

    Technology could reduce operating costs

    The 100 acre solar power plant in Coalinga, California will be used to augment the gas-based steam generation facility at the oil field. [1] The steam is used to heat the heavy oil deposits to reduce its viscosity and make it flow more readily. The solar heating facility will reduce the use of natural gas spent on generating steam and the technology could significantly impact heavy oil production in regions with limited gas supply.

    Solar thermal is thought of as being a much cheaper option to heat water into steam than burning natural gas, which should reduce the operational costs incurred by Chevron in the fields where it produces heavy oil.

    Market in the Middle East

    The Chevron solar facility could be the first step in the commercial adoption of solar thermal technology. Chevron is looking to work with Saudi Aramco and the Government of Kuwait in the exploration of the Wafra field that has around 25 billion barrels of heavy oil reserves. [2]

    The Coalinga project uses technology from solar thermal company BrightSource, in which Chevron owns an equity stake. [3] BrightSource, which entered into its contract with Chevron at a loss in order to prove its technology on a commercial scale, is expected to use the adoption to market its solutions to other facilities producing heavy oil.

    http://www.forbes.com/sites/greatsp...energy-for-oil-recovery-stock-heading-to-104/
     
  3. Margot

    Margot Account closed, not banned

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    The idea of using solar power to extract oil is just another advancement..........
     
  4. Margot

    Margot Account closed, not banned

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    Fyi................
     
  5. Margot

    Margot Account closed, not banned

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    Farasan is also a wildlife preserve...............
     
  6. Taxcutter

    Taxcutter New Member

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    What a job - dusting all those mirrors in a desert.
     
  7. Margot

    Margot Account closed, not banned

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    Its not that big a deal.. I had solar panels in 1979..

    Sand it not dust.
     

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