$250b Investment For GCC Region Power Sector, Primed

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In 2020, the power sector of GCC regions will achieve $250 billion or AED 918 billion worth$250b Investment For GCC Region Power Sector, Primed of investments.
This information revealed by Global Business Reports on their study entitled “Power UAE” picturing that Abu Dhabi and Dubai will reach a high expansion and diversification of the region’s power sector in the next 5 years.
The two major cities of United Arab Emirates (UAE) with the world’s highest use of electricity per household, Abu Dhabi and Dubai are currently executing grand projects to supply the overwhelming demand for power.
One factor the study is considering is the growing population and progress on the industrial zone effecting to high demand of electricity.
For the next 10 years, experts calculated that electricity demand in the region will grow 8 to 12 per cent annually.
It has been also noted on the report that the capital city’s nuclear plan moving to renewable energy as solar power will be launch on the next decade.
The inauguration of the first nuclear project in the country located in Barakah West, Abu Dhabi staggers the nuclear industry as big consortiums bid for the project.
The report also stated that the major players in the power sector flocks to the country and newer companies are consistently coming every year.
Also, an intense competition has seen on the power sector as lots of projects will be introduced in a congested market.
A high official of ADWEA affirmatively supported as he pointed out on his statement that the region is not only the fastest growing but also holds the most potential in global electricity markets.”
On September 23-25 of this year, ‘Power + Water Middle East’ will be held at Abu Dhabi National Exhibition Center (ADNEC) to highlight the electricity usage and its generation across UAE, GCC and Middle East Countries in the future.