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FINANCIAL NEWS
Yemen plans $1.5b energy investment
27 Feb 2010
(MENAFN) Officials at the Yemeni government said that Sana’a wants to invest $1.5 billion to boost power generation capacity by almost 1,400 megawatts to end constant outages across the country, Reuters reported.
The oil producer is facing outages in most cities with many of the two million residents of the capital Sanaa relying on candles and private generators at night. Hospitals sometimes have minutes to switch on their generators after blackouts.
In 2008, the most recent year for which data was available, Yemen had an installed annual power capacity of 1,130 megawatts, according to a US government website.
But diplomats say much capacity relies on expensive and inefficient short-term rental, requiring Yemen to work out a long-term power strategy as its population of 23 million is set to double in 20 years.
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