All future power plants in Saudi Arabia will be developed as public-private partnerships (PPPs), according to the state electricity provider.

“All future projects will be IPP [independent power project] or IWPP [independent water and power project,” said Oasama Khawandanah, energy trading and ventures senior vice president, Saudi Electricity Company (SEC), speaking at the World Future Energy Summit in Abu Dhabi on 17 January.

Khawandanah said that the country’s intention to attract private developers to build all future plants will offer opportunities in traditional and renewable power projects.

“The private sector has a great chance to participate not only in conventional power projects, but also in renewables,” said Khawandanah.

The kingdom is set to undertake a major capacity building programme in the coming years, with peak demand for power forecasted to reach 122GW in 2032 from the 62GW peak recorded in 2015.