Power in the GCC
February 8, 2010 4:58 by kippreport
Estimates vary as to the extent of the GCC countries’ expected investment in the power sector.
A Proleads report in 2008 said that the six Gulf states have earmarked $217 billion on power projects, with Saudi Arabia allocating $111 billion on new power projects, followed by the UAE with 58 projects valued at $55 billion.
This is roughly in line with figures released prior to the GCC Power 2009 Conference, which estimated GCC under-construction power projects are worth $162 billion (with around 50 percent of the investment taking place in Saudi Arabia) with an additional $50 billion of investment by 2015.
However, the World Energy Council has a lower estimate of the future investment requirement. In 2007, the council said that the GCC’s power demand would require an additional $25 billion by 2017, adding that most of it was expected to come from the private sector.