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FINANCIAL NEWS
MENA to invest USD334b in power to meet exploding demand
12 May 2016
(MENAFN) Middle Eastern and North African states will need to invest USD334 billion over five years to meet rising power demand in the Mena region, based on the latest reports.
Over half the amount, USD198bn will be needed to add 147GW of generating capacity until 2020, to the existing 315GW capacity, according to the Arab Petroleum Investments Corporation.
Specifically, electricity demand in the Mena region has been progressively growing nonstop for many years, driven mainly by population growth, industrialization and low power prices.
In spite projections for lower economic development for the region, the corporation projects that Mena demand for electricity will grow at an average of 8 percent per year through 2020.
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