Saudi Arabia to invest $133bn in power sector
Huge sums needed by 2020 to implement planned projects, report says.
Saudi Arabia needs to spend over SAR 500 bn ($133.3bn) on power generation, transmission and distribution projects, according to a report.
The Electricity and Cogeneration Regulatory Authority (ECRA) estimates that power generation will see SAR 335bn, or 63.7% of the total SAR 526bn investment, transmission SAR 121 bn (23%) and distribution SAR 70bn (13.3%).
Maximum power load will reach 71.940 GW by the year 2020 whereas the generating reserve will hit 15 percent, the report said.
The volume of works and investments required represents attractive opportunities to the private sector, ECRA added.