Saudi utility plans $80bn spend over next decade

  • Share via facebook
  • Tweet this
  • Bookmark and Share

The Saudi Electricity Company (SECO) will spend $80bn over the next 10 years to help meet the kingdom’s rising demand for electricity, local daily Arab News reported on Thursday.

The utility, the largest in the Gulf by market value and 80 percent state-owned, will increase capacity by 76 percent, from 54,000 megawats to 95,000MW.

The kingdom needs at least an additional 30,000MW by 2020.

An additional 4000MW is expected to be added to the network this year, with another 8000MW by 2014.

SECO also is investing in solar energy, which is becoming much more common in the Middle East as countries attempt to grapple with expanding populations and environmental concerns.

The Saudi government has announced plans to invest SR408.75bn to produce 41 gigawatts of solar energy by 2032.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi king keeps close hand on oil in remodelling strategic team

Saudi king keeps close hand on oil in remodelling strategic team

King is clearly laying the ground for a generational shift in...

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Insider: Oil and gas sector in fear of hackers as cyber attacks surge 179%

Experts have put the vital industry on high alert as the threat...

Saudi Arabia adds to oil power with new refineries

Saudi Arabia adds to oil power with new refineries

Two state-of-the-art plants set to redefine Gulf kingdom's role...

Most Discussed
  • 8
    Has Narendra Modi already lost the plot?

    Do something for your country instead of giving an overview from outside the country. This article does not have indepth view of the policies announced... more

    Thursday, 26 March 2015 2:47 PM - umas
  • 4
    Nakheel PR: The toughest job in Dubai?

    I would suspect the damage is done. Nakheel should have put its customers first and made them allies. Instead, it has treated them as second-class citizens... more

    Friday, 27 March 2015 2:42 AM - Chris
  • 3
    Drunk passenger who slapped air stewardess jailed in Dubai

    @Nezaud is 100% correct. Infact I think it is utter hypocrisy for airlines to complain about Drunken passengers when it is they (the airlines) who are... more

    Friday, 27 March 2015 2:42 AM - Robert Carter