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FINANCIAL NEWS
UAE to spend USD8b on power projects: BMI
07 Nov 2012
(MENAFN) Business Monitor International (BMI) stated that by the end of the decade, the UAE is forecasted to spend USD8 billion on power projects, reported Emirates 24/7.
BMI said that by the end of 2021, electricity generation capacity in the UAE is expected to grow by more than 53 terawatt hours (TWh).
The invested amount will cover thermal, renewable, coal and nuclear generating capabilities; with the market remaining highly attractive to foreign developers.
During the current year, total power generation in the Arab country is expected to be at 90.48 TWh, with a growth of around 4 percent from 2011.
It is worth noting that the UAE’s natural gas-fired generation will rise by 3.6 percent by 2021, whereas nuclear is forecasted to contribute with 13.6 percent of the total energy mix by the end of the period.
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