Price: $0.00
Published: 25-10-2018
Rapidly growing population and urbanisation, rising income levels, and industrialisation are the market drivers for rise in electricity consumption in the GCC region. According to APICORP Energy Research, the GCC represents 47% or 151 GW (of current MENA power generating capacity). The GCC countries are on growth path, largely driven by robust construction activities, which results in rise in power demand. According to the World Energy Council, the GCC will require 100 GW of additional power over the next 10 years to meet the demand. The GCC countries have been exploring PPPs as fluctuations in oil prices caused a strain that made the governments resort to PPPs. The GCC countries’ reliance on independent IPPs is set to witness a growing trend. As electricity demand continues to increase in both the GCC and MENA regions, the governments are making investments in power a priority as it is expected to register robust growth in the coming years with a plethora of opportunities available for both investors and developers alike.
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