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Saudi power utility SEC increased its generating capacity by 2.04GW to 56.75GW in 2015, a modest increase at a time when consumption is rising rapidly. The state firm is looking to third parties for a big contribution to medium term capacity growth.
In the company’s 2015 annual report, published this week, CEO Ziyad bin Muhammad al-Shiha says the company now has access to more than 69GW of capacity from which to supply its customers.
But the 3.7% increase in SEC’s own generating capacity lags Saudi power demand growth: consumption increased by 10.1% in 2015. Last summer’s Saudi peak demand was 62.3GW, compared with 56.6GW in 2014. Recently-ousted electricity minister ‘Abd Allah a-Husain predicts that demand will reach 90GW in 2022.
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