MEE 2013 DAY TWO 17 - 19 FEBRUARY 2013 www.middleeastelectricity.com Doing Global Business the Power of Good
Open Daily: 10am - 6pm
GCC to spend 42 per cent of total expenditure on power sector by 2017
.............................................................
S01 MEE 2013 Day 2 Version02_Layout 1 2/26/2013 4:32 PM Page 1
UNLIMITED ENERGY: UNLIMITED OPPORTUNITY
..................................................................................... Published by SERVING THE REGION’S BUSINESS SINCE 1984
INSIDE
Visitors flock to MEE 2013 The best images from a busy first day at Dubai World Trade Centre Page 15
Qatar targets growth in renewables sector The Gulf state looks to increase its power generation capacity Page 8
IDC Energy lists its top 10 predictions for 2013 Smart grid flexibility among IDC’s power forecast for EMEA region Page 10 The GCC's fast-growing population is fuelling public expenditure on the power sector across the region.
T
he Gulf Cooperation Council (GCC) recently announced that by 2017 42 per cent of total expenditure across the MENA region would be injected into the power industry. The GCC said it would need to pump US$250bn into the power sector over the next four years in order to meet growth in the regional demand for electricity. The investment would include power generation, transmission and distribution (GTD) and fund more than 200 planned and announced energy-related projects valued between $100mn and $20bn.
The report, entitled MENA Energy Investment Outlook: Capturing the Full Scope and Scale of the Power Sector, was released in late 2012. Published by the Arab Petroleum Investment Corporation (APICORP), the study stated that power capacity in the MENA region would increase by 7.8 per cent annually to 2017, which it said would translate to a capacity increment of 124 GW. Middle East Electricity exhibition director Anita Mathews said, “A young, urbanising and fast-growing population
combined with the massive diversification and industrial expansion plans across the MENA region has led to a spurt in the demand for power. “Some MENA countries have been struggling to keep up with the escalating demand amid political turmoil in parts of the region. “By catching up with power demand being perceived as socially, economically and politically desirable, however, we see a concerted private and public sector effort to ramp up investment in powerrelated industries,” Mathews noted.
Countries within the GCC hold the majority of investment growth in the MENA region, accounting for 42 per cent ($105bn) of total required expenditure, leading a growing number of companies from across the power sector to target business opportunities across the council’s member states. “Middle East Electricity is the ideal meeting place for exhibitors from all over the world to showcase their products and services to an audience of key decision makers from more than 120 countries,” Mathews added.