Investments of more than $100b expected to boost generation and transmission capacities
The construction of six new cities across Saudi Arabia will contribute to a predicted 67,000 megawatt increase in demand by 2030.
The economic cities, with a combined worth of US$ 60 billion, will house massive industrial and commercial developments, in addition to millions of next generation nationals.
The figures, published by the organisers of Saudi Energy, state demand is already rising 8% YOY.
“An exponential growth of capacity and auxiliary services is needed to support the energy needs of the multi-billion-dollar projects materializing across the Kingdom,” commented project manager for Riyadh Exhibitions Company, Khaled Daou
“Saudi Energy provides a comprehensive platform for stakeholders to find out the latest and best products and services available in the global markets and for exhibitors to show how their particular offerings can be strategically important to Saudi Arabia’s energy domain,” said Daou.
To meet the demand, an initial investment of more than US$100 billion will be needed to sufficiently boost the country’s electricity generation and transmission, as well as to build renewable energy plants and nuclear power facilities. The Kingdom is thus emerging as a key market for energy-related technologies, products and services.