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Published: 31-10-2017
Population growth, urbanisation, rising income levels, industrialisation and low electricity prices are expected to place a greater thrust on GCC power, both from the generation and T&D perspectives. Due to rising domestic consumption and increasing competitiveness of renewable energy especially solar power, all GCC countries will seek greater involvement from the private sector. The GCC VAT expected to be introduced in 2018 is likely to bring some changes to the power sector, especially for companies dealing with solar power. The GCC countries are set to invest billions of dollars in projects for setting up new power production plants, distribution systems and supply grids in the next five years. The UAE, KSA and Kuwait will remain the top attractive power sector investment destinations in the GCC region.
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