Saudi to spend $100bn+ on power infrastructure
Kingdom invests in bid to keep up with annual power demand increase
Saudi officials have announced the Kingdom plans to spend more than $100 billion on power plants and distribution networks by 2020, in order to meet increasing electricity demand, Bloomberg has reported.
“That’s probably a conservative estimate,” said Abdullah al-Shehri, governer of Saudi Arabia’s Electricity and Co-Generation Regulatory Authority. “About one-third of the new investment will be for power plants, with the rest going towards the national grid.”
In the next two decades the nation will need to increase its generating capacity by more than 120,000 megawatts, with the government estimating that power demand is rising by eight per cent annually.