Saudi Arabia To Invest $100 Billion In New Projects To Meet Future Energy Needs
Growing interest seen in adopting innovative lighting solutions to promote sustainable energy use.
- (1888PressRelease) August 05, 2011 - Rapid economic growth and the resultant urbanisation boom is fuelling growing demand for power in Saudi Arabia. This has led to the Kingdom implementing multi-billion dollar investments in power infrastructure to boost production to meet current and future demands.
Recent reports indicate that the Middle East's largest economy is set to spend close to $100 billion in boosting energy production over the next decade. This includes the construction of new power plants, expansion of existing ones and improving distribution systems across the country. This investment forms a large chunk of the total $250 billion energy in-vestments planned across the countries of the GCC.*
Industry experts also report a rising trend towards adopting energy-efficient solutions to lighting, heating and cooling needs in domestic, industrial and public spheres in the Kingdom, as awareness grows about the cost benefits and energy-saving potential offered by modern lighting and HVAC systems.
"Given the huge expenditure involved in setting up new energy infrastructure and the rising patterns of energy use among the increasingly prosperous societies in the region, the effective integration of energy-efficient lighting systems along with infra-structural investments can promote sustainable energy use in the future," said Ahmed Pauwels, Chief Executive Officer of Epoc Messe Frankfurt, organiser of Light Middle East 2011, the trade event of choice for the Middle East's lighting technology and design industry.
"Light Middle East will focus on the current trends and developments across the region and aid industry professionals and authorities to come up with effective solutions for their particular needs. Saudi Arabia, being the largest market in the region, is attracting huge attention from the energy and lighting majors the world over," he added.
It is estimated that Saudi Arabia's vast appetite for energy will grow at 8 per cent annually from the current peak levels of 44,000 MW to triple the current offtake by 2032 at 121,000 MW.** It is also estimated that architectural and consumer lighting account for nearly a quarter of the power use across Saudi Arabia. To cope with this predicted rise in energy demands, the country plans to increase electricity production capacity by building a series of new plants.
The plans include a thermal plant at the port of Yanbu on the Red Sea, with a capacity of 850 MW and a cost of $1.5 billion and the Ras Al Zor point in the eastern region which will be the site of the world's largest power and desalination project with an estimated cost of about $2.4 billion. Completion of the project is expected by the end of 2013 when the plant will have a production capacity of 2,800 MW.***
Light Middle East 2011 runs from September 12 to 14, at the Dubai International Convention and Exhibition Centre. The re-gion's largest trade event and conference brings together the who's who in the industry and spotlights the latest trends and developments that impact the world of lighting internationally.
The conference programme, Light Insight Arabia, will focus on intelligent lighting design on Arab projects across the region and is expected to be a key meeting place for architects, lighting consultants, designers, manufacturers, suppliers, and other industry professionals. Serving as a platform for topical discussions on sustainable lighting solutions and energy efficiency, the conference will feature leading experts from around the world as well as local experts from the GCC region.
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*Bloomberg Businessweek: http://www.businessweek.com/news/2011-03-28/saudi-arabia-to-spend-more-than-100-billion-on-power.html
**Reuters: http://www.reuters.com/article/2010/10/20/us-mideast-summit-saudi-power-idUSTRE69J2OF20101020
*** Utilities ME: http://www.utilities-me.com/article-745-24bn-ras-al-zour-contract-for-saudi-chinese-jv/
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