FINANCIAL NEWS

Saudi power projects need USD 133bn investment

08 Feb 2016

(MENAFN) KSA will need investment of USD 133.3bn in electricity projects in the coming ten years in order to manage with rising power demand, which will hit 90,000 megawatts in 2022.

Additionally, the Kingdom’s electricity load hit its highest level in August driven by regional demand for power during the summer, which increased by 10.2 percent.

Accordingly, the expansion plans in the sector needs the execution of electricity projects for the next ten year whose costs will spread USD 133.3bn.

The project plans to permit power trading between KSA and Egypt, whereas power consumption in Saudi Arabia drops between noon and midafternoon.

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