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Saudi Arabia must invest SR500bn ($133.3bn) in electricity projects over the next 10 years to meet rising power demand, according to Minister of Electricity ‘Abd Allah al-Husain. He warns that the kingdom’s peak electricity demand will reach 90GW in 2022, up 45% from last year’s record level.
Mr Husain told a conference in Riyadh this week that Saudi electricity demand reached a new high of 62.26GW in summer 2015, which was 10% up on 56.55GW recorded in 2014. While a 45% demand hike over eight years is high in global terms, it is still modest compared with a 64% increase over 2008-15 (see graph).
The investment will be required across the Saudi electricity sector, not only in generating capacity but also in expanding and upgrading transmission and distribution grids. Mr Husain says that the private sector is expected to take part in the development program. (CONTINUED - 825 WORDS)
DATA INSIDE THIS ARTICLE
|chart||DNO Capex To Rebound In 2016 ($ Mn)|
|table||Saudi Powergen Fuel Prices ($/Mn Btu)|
|table||Saudi Major Power Projects Pipeline|