SEC approves US $2bn for new projects
GCC's largest utility to add 13,000MW until 2012
According to a company statement published on the Tadawul website today, Saudi Electricity Company (SEC), the GCC’s largest utility, has approved US $2 billion worth of contracts to boost power generation and transmission in Saudi Arabia.
Reuters said that the money was the first tranche of funding approved by the company to increase its generation capacity by around 13,000MW between now and 2012.
SEC has recently been making strenuous efforts to match available power with strenuously rising demand.
By 2018, Saudi Arabia has earmarked $70 billion to add 25,000MW.