The Ministry of Electricity and Water of Saudi Arabia estimates that the country will need to invest SR 500bn (US$133bn) in power projects over the next ten years to meet rising energy demand.
Peak demand is expected to reach 90 GW in 2022, while the installed capacity is less than 80 GW (77 GW in 2014). In September 2015, peak demand soared by 10% (compared to 2014 peak level) to 62.3 GW, from 56.5 GW. Saudi Arabia plans to sign contracts to connect Saudi Arabia to Egypt by mid-2016, to have the interconnection project operational before mid-2019.
In addition, Saudi Arabia bets on energy efficiency: the kingdom plans to save 1.5 mboe/d by 2030 with an energy efficiency programme that will be implemented. An extra 850 kboe/d could be saved with higher efficiency from power and water desalination plants and with an improved use of feedstock for petrochemicals (19% of total energy consumption).
Searching for proven generation costs?
Then CAPEX & LCOE is the database you need. The module provides exclusive insights on both Capital Expenditure and Levelised Cost of Electricity.
Make informed decisions in terms of which technologies to invest in and where. In just a few clicks, access unique, premium data on both thermal and renewable power generation costs by technology and by country. Put our detailed, reliable information to use and benchmark your project.