JEDDAH: Saudi Bin Ladin Group (SBG) will team up with France's state-controlled Areva for the construction of a nuclear energy reactor in Saudi Arabia. "We think that on solar thermal in Saudi Arabia, there's an important market, and we are partnering with Saudi Bin Ladin Group to develop this," Areva Chief Executive Officer Anne Lauvergeon said. In a Jan. 24 briefing, Lauvergeon did not provide details of the agreement. Areva, 90 percent of which is controlled by the French government, has been lobbying to construct the first nuclear reactor in Saudi Arabia. "We want to have an energy mix to save oil, and this oil we can leverage prices so we can sell it abroad to build these facilities," Hashim Yamani, president of the King Abdullah City for Atomic and Renewables Energy, said. "Nuclear would be adequate for the base load. We'll use renewables to add more capacity. There are some variations. Gas and oil will have to continue to help." Yamani said nuclear and renewable energy would reduce Saudi dependence on fossil fuel by 2050 as well as increase crude oil exports. "Saudi will need to invest upfront in nuclear energy, but the oil saved will contribute significantly to the costs," Yamani added.
