DUBAI – Saudi Arabia has 15 new projects worth $8.8 billion kicking off in 2012, including the $2 billion Al Qurayyah Independent Power Plant, and the $1.2 billion Shuaiba 2 Power Plant, Ventures Middle East said in a new study. The figures have been released by Ventures Middle East ahead of "Power + Water Middle East" scheduled to take place in Abu Dhabi in October. It said the UAE has 10 power and water projects worth $1.5 billion slated to begin construction in 2012, including the $740m Noor 1 solar power plant, and Phase 2 of the $580 million Emal Power Plant. It added that Kuwait has given the green light for 19 power and water projects worth $4.2 billion, highlighted by the $2.7 billion Al Zour North Independent Water and Power Plant. The Middle East energy sector is witnessing a surge of fresh investment in 2012, with 97 new power and water projects worth $32.7 billion having started construction since this year, or due to begin before the year-end. Other MENA countries surging ahead with new power and water projects in 2012 include Morocco, Egypt, Oman, Qatar, Jordan, Iraq, Yemen, Syria, and Bahrain. According to the World Energy Council, the Gulf region alone will require 100GW of additional power by 2020 to meet increased demand, growing at 7.7 percent annually. Population in the Middle East is expected to grow by 31 percent by 2025, reaching 500 million, forcing regional governments to not only ramp up efforts to invest in more power capacity, but also putting significant strain on already scarce natural water resources. The Middle East is one of the most water scarce regions in the world, resulting in significant investment in water infrastructure and non-traditional water technologies such as desalination and wastewater re-use. Anita Mathews, exhibition director for Power + Water Middle East, said: "Growing demand and rapid industrial developments has enabled Middle East countries to continue their run as the most dynamic power and water sectors in the world. Power consumption in the MENA region has been growing significantly and is poised to grow at a faster pace in the years to come." – SG/Agencies
