Dubai, June 1 (PTI) The GCC region needs to invest USD 65 billion on boosting power generation capacity and at least the same amount on expanding its transmission and distribution network to meet fast-growing demand, an industry forecast said.
"The task facing GCC utilities has just got harder," said the MEED report, adding that Saudi Arabia faced the biggest challenge.
"It had forecast that demand would reach 75,000 MW by 2019, up from 46,000 MW in 2010. However, the forecast does not take into account the February, 2011, announcement by King Abdullah that some 500,000 new housing units would be built.
This alone will add a further 5,000-6,000 MW to the demand forecast," the MEED Insight's GCC Power & Desalination report series said.