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FINANCIAL NEWS
SEC: Saudi power order to slowdown after 2015
04 Oct 2010
(MENAFN) A statement issued by the chief executive officer (CEO) of state-controlled Saudi Electricity Co (SEC) said that the Kingdom anticipates a slowdown in power demand by 4 to 5 percent from 2015 until 2020, Arabian business reported.
The SEC is planning to invest $80 billion to increase capacity to least 70,000 megawatts by 2020 from an installed capacity of 50,000 megawatts.
The kingdom’s plan to pay $ 133.3billion until 2020 would be sufficient to meet domestic demand, rising at an annual rate of 8 percent.
It is worth mentioning that around half of Saudi Electricity capacity is fired by heavy fuel oil, crude and diesel. The rest is fired by gas.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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