Saudi Electricity and Cogeneration Regulatory Authority (ECRA) has said that the kingdom needs to spend SR526bn ($140.3bn) on electricity projects over the next decade to meet the fast growing demand in the country, Zawya Dow Jones has reported. Around 63.7% of the amount will be invested in power generation, while the rest will be spent on power transfer and distribution, ECRA said. Saudi Electricity Co (SEC) is expected to invest $80bn over the next 10 years to add 20,000 megawatts of power generation capacity. Demand for power grew last year in the kingdom by more than 8% and is expected to grow to more than 60,000 megawatt by 2020.
You might also like...
Alstom wins Jeddah airport deal
18 April 2024
Chinese contractor to build 86-storey tower in Dubai
18 April 2024
Japan and UAE to explore clean energy cooperation
18 April 2024
Contract awarded for Algeria steel project
18 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.