September 25, 2013

With electricity demand in the Middle East and North African (MENA) countries set to grow at an average annual rate of 7 per cent per year, it is estimated that as much as $283 billion (Dh 1.039 trillion) will be invested in the region’s power sector between 2014 and 2018. The proposed regional investment in electricity generation is as per the finding of Kuwait Financial Centre.

The Gulf Cooperation Council states are projected to invest more than $ 300 billion in some 20 energy projects by 2020, which will generate 8 gigawatts of additional power, according to Doha-based Gulf Organisation for Industrial Consulting.

Of the UAE’s current installed electricity generation capacity, almost 85 per cent of the power that is generated is gas-based, while the other plants are oil-fired. Nearly all of Abu Dhabi and Dubai’s electricity comes from gas-based stations.

The UAE’s $20 billion civil nuclear programme is on schedule with the country’s first nuclear reactor slated to start operations in 2017. The UAE is currently working on plans to have four nuclear power reactors operational in Barakah by 2020 to generate 5.6 GW of electricity. The first plant has been under construction since July 2012.