MENA to invest $250bn power projects in five years, says organizer of Power-Gen Middle East
- Qatar: Saturday, January 12 - 2013 at 14:26
- PRESS RELEASE
The Middle East and North African (MENA) countries are expected to pump nearly $250bn into power projects over the next five years to expand generation capacity and meet the growing domestic demand.
Organizers said nearly 200 power projects are on the agenda of the February 4-6 conference which will also discuss new technologies and other power-related issues.
"Significant energy-related projects as part of the 200 planned and announced ventures valued between $100m and $20bn will be major points of discussion at Power-Gen in Doha," said the British PennWell Corporation, which is organizing the event.
"A total of $250bn is expected to be pumped into the power sector in the MENA region over the next five years to meet regional electricity demand growth."
The statement gave no breakdown for the investments but according to an official Arab group, the Gulf Cooperation Council (GCC) countries are expected to pump more than $63bn into electricity projects over the next five years to expand their power generation capacity to meet growing domestic demand.
The six countries, which control 40% of the world's recoverable oil resources, will add nearly half the expected additional power generation capacity in the region, said a study by the Dammam-based Arab Petroleum Investment Corp (Apicorp).
It estimated the total capital in power generation in MENA at $147.5bn during 2013-2017 to add about 123.9 GW of electricity while the rest could cover water projects.
"A regional breakdown shows that about 43% of that expansion in MENA is expected in the GCC, which remains the fastest growing area. This should come as no surprise, taking into account its record rates of urbanization and the massive requirements for water desalination and air conditioning."
The study put investments in power projects at around $63.1bn in the GCC, $36.8bn in Mashreq (east) Arab nations, $21.4bn in Iran, $14.6bn in Maghreb Arab countries and nearly $2.3bn in other Arab nations.
It said that as a result of high population growth, record levels of urbanization, sustained economic growth and pressing needs for air conditioning and sea water desalination, many countries in the region have been struggling to meet demand.
In a separate study, Apicorp said the GCC is projected to record the highest power demand growth of around 8.5% in the region in the medium term.
It put growth at 7.6% in Mashreq (Egypt, Iraq, Jordan, Lebanon and Syria), 7.2% in other Arab states, 7% in Iran and 6.5% in Maghreb (Algeria, Libya, Mauritania, Morocco and Tunisia).
Power-Gen, one of the most important events of its kind in the region, will be held at Qatar National Convention Centre under the patronage of His Excellency Dr. Mohammed bin Saleh Al-Sada, Qatar's Minister of Energy and Industry. The event will explore new venture investments, intellectual property, enhanced technology solutions, management skills and innovative new products.
More than 60 distinguished delegates from over 20 countries will speak about a variety of issues, including the challenges and opportunities for power project development, maximizing today's grid potential and tomorrow's alternatives, renewable energy technologies and integration and operation and maintenance.
Delegates and visitors will also have the opportunity to view first-hand innovative and cutting-edge products and technologies by over 135 leading regional and international companies including ABB, Ansaldo Energia, Bilfinger Berger Power Service GmbH, Doosan Heavy Industries& Construction, FATA EPC Division of FATA SpA, Northern Technical L.L.C. and SPX.
"We expect a very successful event as our esteemed international speakers from the GCC region and around the world present innovative thinking for discussion, debate and deliberation about business, technology and financial challenges required for energy efficient development, investments and partnerships," said Mrs Debbie Stanford-Kristiansen, International Events Director, PennWell Corporation - Middle East.
"We are also delighted to present an unparalleled exhibition that will showcase some of the most innovative technologies and viable, sustainable solutions to meet the region's growing energy challenges by leading established and growth companies," added Stanford-Kristiansen.
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