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Saudi to invest over USD133b in power projects  Join our daily free Newsletter

MENAFN - 03/12/2012

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(MENAFN) Saudi Water and Electricity Minister, Abdullah al-Hussayen, announced that over the coming 10 years, the Kingdom's investments in the power sector would exceed USD133 billion to meet growing local demand, reported Arabian Business.

Al-Hussayen said that in the January-June period, power demand grew by 9 percent from 2011's same period, whereas the summer peak rose by 7 percent as demand for air conditioning increases.

He noted that the country plans to use solar and nuclear plants to generate some of its electricity; moreover, it might use wind, waste and geothermal energy sources to generate power to cut dependence on oil and gas.

It is worth noting that in May, the Kingdom's deputy electricity minister raised estimates for the amount of investments required in power projects over the coming 10 years to USD106.52 billion from USD79.89 billion.

 






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