Saudi Power – Markaz Research
June 7, 2012
Among the GCC economies, Saudi Arabia can be addressed as the most aggressive nation with respect to investments in the Power sector. Reasons are multifold. Kingdom of Saudi Arabia struggles to keep pace with the increasing demand for electricity. Factors, which drive the rapid growth in demand of energy, in the Kingdom, are the population growth and high level of urbanization. According to IMF estimates, Saudi population is expected to increase from the current 28 million to reach 31 million by 2015 and 37 million by 2020. Urban conglomerates contribute around 83.6% of the total population1 in the Kingdom which is growing at 2.2% annually.