Electricity generation: KSA to spend SR190bn

Saudi Arabia plans to spend SR190 billion in electricity generation in a three-year period ending in 2015, according to a report attributed to a Frankfurt-based specialized firm.
This spending on power generation goes in tandem with the large demand on power, notably at peak times during the hot summer season, local media said quoting the report.
To rationalize power consumption, the report said, the Kingdom has embarked on smart solutions, including green technologies and thermal insulation approaches, especially in new buildings on a gradual basis.
The Kingdom, alongside the other Gulf Cooperation Council (GCC) countries, has worked out smart plans to lessen dependence on oil for power generation. It also works to preserve oil as a major source of income, the report said.
Experts said GCC countries have gradually tended to use alternative energy sources for power generation such as natural gas or nuclear reactors. The next few years are poised to witness a great success in the promotion of the electric power generation sector in GCC countries, they said.
In a recently held forum on mega infrastructure projects, speakers stated that Saudi Arabia plans to privatize the electricity sector by 2014, a step aimed to create a competitive market in the area of power generation and distribution. Saudi Electricity Company (SEC), of which the government owns a major share, is tasked to generate and distribute electricity Kingdomwide.
Meanwhile, head of the Independent Power Plants (IPP) project program at SEC Amir Al-Sawaha said they were working on the creation of four electric power generation companies and one energy distribution company by 2014. Each of the four companies will have similar capacities and technologies regardless of their geographical locations. These will allow SEC to scrutinize their performance, he added.