Arab Today, arab today gcc to spend 25 billion to expand power generation capacity
Last Updated : GMT 20:29:46
Arab Today, arab today
Arab Today, arab today

GCC to spend $25 billion to expand power generation capacity

Arab Today, arab today

Arab Today, arab today GCC to spend $25 billion to expand power generation capacity

Abu Dhabi - Qna

The Gulf Cooperation Council (GCC) countries are likely to spend up to $25 billion (Dh91.80 billion) over the next decade to install new power generation capacity to meet their burgeoning electricity demand, Director General of the International Renewable Energy Agency (IRENA) Adnan Ameen said here yesterday. “As a result of high economic and population growth rates, regional energy demand and electricity consumption are increasing rapidly. Just to meet this demand, the GCC will require 100 GW (gigawatts) of additional power-generating capacity over the next ten years. This translates to an investment of $25 billion,” Ameen told delegates at a conference on global energy organized by the Emirates Centre for Strategic Studies and Research (ECSSR) in Abu Dhabi yesterday. Ameen said the rapid increase in electricity consumption is having a substantial effect on the region’s oil and gas industries, the UAE daily (Gulf News) reported Wednesday. “It is boosting demand for natural gas, which is creating a gas supply shortage in the region. It is also boosting demand for the region’s heavily subsidized hydrocarbons which, in turn, is reducing the volumes exported and the revenues received,” he added. Ameen said the UAE has taken bold strides towards diversifying its energy sources and creating a more sustainable future for its population. It has launched the Masdar initiative, investing billions of dollars in developing renewable energy projects, including Masdar City, the world’s first zero-carbon zero-waste city; and the Masdar Institute, which is focused on research into alternative energy technologies and sustainable development issues. He said other GCC countries are investing in renewable energy projects as well. “Bahrain is planning a large offshore wind farm; Kuwait aims to install considerable solar generation capacity; Oman is planning six renewable energy pilot projects; Qatar is considering investments in seven solar plants and Saudi Arabia has plans for $133 million in renewable energy projects.” Ameen said Irena foresees that by the middle of this century, renewable energy has the potential to become a leading economic sector in GCC countries.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc to spend 25 billion to expand power generation capacity Arab Today, arab today gcc to spend 25 billion to expand power generation capacity

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc to spend 25 billion to expand power generation capacity Arab Today, arab today gcc to spend 25 billion to expand power generation capacity

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday