Middle East Energy

GCC requires 80,000MW more power per day by 2015

: Tuesday, November 05 - 2013 @ 10:33

Global IWPP Summit 2013 to focus on challenges and opportunities for regional utilities sector

Approximately 80,000MW of additional power and 290 million gallons of water will be required by GCC countries per day by the end of 2015 – at an average of seven per cent annual growth – as the region struggles to meet high demands caused by increasing population and new infrastructure projects, according to conservative estimates by regional utilities companies.

“As the region explores ways of meeting high demands for both power and water, private utilities companies in the region are facing a major challenge – obtaining finance and funds for new projects,” says Richard Menezes, managing director at Utico Middle East. “As with the rest of the world, regional utilities companies struggle to find the right contract with the right terms and right financiers, while debating the right tariffs and policies.”

These issues will be raised by government authorities and private sector companies in the Middle East region, along with their counterparts from across the world, at the second Annual Global Independent Water and Power Projects (IWPP) Summit, which is organised by Fleming Gulf and will take place at Al Hamra Fort Hotel and Beach Resort, Ras Al Khaimah, from November 24 to 26.

The summit will be held under the patronage of His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and will also be attended by senior executives from the region’s utilities and energy sector. It will discuss the challenges, issues and opportunities in the independent power and water sectors in the Gulf region. The three-day event, once again, brings together policy makers, ministries and technology leaders in the business community to share their vision to establish the initiatives required for the right solution.

The Global IWPP Summit has also become an important platform to announce major projects across the region. Last year’s inaugural summit saw a high-profile announcement – Utico’s agreement with Shanghai Electric to set up a coal-fired power plant in Ras Al Khaimah worth AED1.5 billion – the first of its kind in the Middle East region.

“The global utilities industry has witnessed several ground-breaking trends during the past few years, which can potentially bring significant changes in the industry structure and the relationship between consumers and their utilities,” says Martin Valovsky, CEO of Fleming Gulf. “By bringing both private and public sector enterprises under one roof, we can chalk out a strategy that can lead the utilities sector to a better future.”

This year’s summit will see industry leaders discussing and benchmarking crucial issues to seize new opportunities and make them effective for the region. The participants will also review ways of improving energy efficiency in power and water plants and role of the utilities to dispatch plants efficiently, along with key challenges in ensuring efficient development and operation of power and desalination plants. The role of alternative and renewable energy sources, such as nuclear energy, solar energy and wind power energy, with particular significance to the Arab world, will also be discussed at the summit.

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Tuesday, November 5- 2013 @ 10:33 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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