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FINANCIAL NEWS
Saudi Electricity targets 7.9m clients by 2016
27 Dec 2010
(MENAFN) Ali Al Barrak, Chief Executive Officer at Saudi Electricity Co., said that by the end of 2016, the company is forecasted to have a customer base of 7.9 million, as it seeks to meet rising demand for power in the Arabian Gulf�s largest Arab country by population, Bloomberg reported.
According to Al Barrak, the state-controlled utility aims to add 309,000 new customers next year and 1.79 million between 2011 and 2016, alongside the addition of 12,752 megawatts during the mentioned period, in order to meet the Kingdom’s growing need for electricity, due to the swelling population and accelerating economic growth spurred by government spending.
The Riyadh-based company will add 6,510 megawatts in 2011 in new projects that will enter the service as of 2012. This includes building 56 new power transfer stations, upgrading 10 existing stations and adding 33 power transforming stations, said the CEO.
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