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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
MENA regions needs $260bn investment to meet electricity demand
Electricity demand and consumption have been growing rapidly in the MENA (Middle Esat and North Africa) region, driven by population growth and urbanisation, rising income levels, industrialisation and low electricity prices. While economic growth has slowed compared with historical highs, the International Monetary Fund still expects an increase of 3.2% in 2018 and 2019, rising to 3.5% in 2022. The region’s population is also expected to grow at an average rate of 1.5%/y in that same period. In order to meet this rising demand, APICORP estimates that MENA power capacity will have to expand by an average of 6.4% each year between 2018 and 2022, which corresponds to additional capacity of 117 GW. APICORP forecasts that $152bn will be required to deliver this additional capacity, with a further $108bn needed for transmission and distribution.
News Item details
Journal title: Petroleum Review
Countries: Africa - Middle East -
Subjects: Banking, finance and investment, Electricity markets
