Saudi Arabia Report

"If we think of utilities, i.e. power generation, water, etc., I believe it is time for the private sector to step in and start privatising utilities. Why shouldn’t the private sector start their own power generation plants, where they can have their own utility generation units making 200 to 500 megawatts, which they sell to the government or to the electricity authority?," asks Emad Al-Shamma, CEO of Al Khafrah Group Holding Co.

"As you know, KA CARE is the establishment by royal decree that governs and is in control of the integration of renewable energy into Saudi Arabia’s energy sources. If the private sector starts developing their own energy generation plants, then an individual could invest in that project and generate enough revenue for his children and his children’s children. Everybody would like to leave a legacy for their children, and this is a way to do that. This investment will bring in revenue for the next 10-20 years at least. I firmly believe that it is like having a nest egg for the future."