Saudi commitment to industrial-scale solar power represents a windfall to an industry that is in need of cash.
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A scaling back of subsidies in pioneering Germany and vast oversupply of electricity-producing panels in the new solar superpower China has led to a spate of bankruptcies by panel makers in Germany and losses among Chinese companies.
China's formidable manufacturing base has halved the price of photovoltaic (PV) panels over the past year, and most experts believe Chinese PV panels will feature heavily in a solar boom in Saudi Arabia and the wider region.
But not all are convinced. Chinese companies are carrying large debts and suffering poor earnings, which makes them unappealing for funding, says an investor based in the US. As solar arrays have a lifespan of about 25 years, power providers will be hesitant to buy from companies that might not be able to deliver down the line. The precarious state of the balance sheets might also translate into higher borrowing costs for projects using Chinese equipment, the investor says.
Companies that can install and maintain their equipment will end up with the competitive advantage, he believes, which opens the door to players such as the US company First Solar.
Because of falling panel prices, the real money is to be made through installation and service work.
"Installation is more expensive than panel production now," the investor says.
Abhay Bhargava from the consultancy Frost & Sullivan agrees. "The biggest gainers will be in the service sector, the system integrators, EPC contractors," he says. Those services could well be delivered by a local industry, giving the solar programme the added value of job creation, which is a goal of governments across the region.
"There is a good fit between cheap foreign technology and local expertise," says Vahid Fotuhi, the chairman of the Emirates Solar Industry Association.
Two polysilicon plants are under construction in Saudi Arabia and one in Qatar. Polysilicon is the material used in PV panels, and the projects will lay the basis for regional PV manufacturing. Apart from panels, solar arrays also need other equipment, such as inverters to convert direct current produced by solar panels to alternating current.
"There is a potential industry that stands to gain from that," Mr Bhargava says.
Concentrated solar power, in which mirrors collect and focus the sun's rays to provide the heat used to drive turbines, is better suited for large-scale solar-power production, Mr Bhargava says.
fneuhof@thenational.ae
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
Company%20profile
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South Africa squad
Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wicketkeeper), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wicketkeeper), Keshav Maharaj, Aiden Markram, Morne Morkel, Wiaan Mulder, Lungi Ngidi, Vernon Philander and Kagiso Rabada.
COMPANY%20PROFILE
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
