GCC needs additional 290MIGD of water
The demand for power and water will grow by 7% annually in the region
Approximately 80,000 MW of additional power and 290 million gallons of water will be required by GCC countries per day by end-2015 at an average of 7 per cent annual growth as the region struggles to meet the high demand caused by increasing population and new infrastructure projects, according to conservative estimates by regional utilities companies.
“As the region explores ways of supplying the high demand for both power and water, private utilities companies in the region are faced with a major challenge – obtaining finance and funds for new projects,” said Richard Menezes, Managing Director of Utico Middle East. “As with the rest of the world, regional utility companies struggle with finding the right contract with the right terms and right financiers, while debating the right tariffs and policies.”
These issues will be raised by government authorities and private sector companies in the Middle East along with their counterparts from across the world at the 2nd Annual Global IWPP (Independent Water and Power Projects) Summit in Ras Al Khaimah, from November 24 – 26, 2013. The summit will be attended by senior executives from the region’s utility and energy sectors.
“The global utilities industry has witnessed several ground-breaking trends during the past few years which can potentially bring significant changes in the industry structure and the relationship between consumers and their utilities,” said Martin Valovsky, CEO of Fleming Gulf, organisers of the Annual Global IWPP Summit. “By bringing both private and public sector enterprises under one roof, we can chalk out a strategy that can lead the utilities sector to a better future.”