A report published by the “Ventures Onsite” group for the “Middle East Electricity” expo titled: “Middle East and North Africa (MENA) Energy Outlook 2019”, indicated that investments in the energy infrastructure over the next 5 years will reach US$ 109 billion.
According to the report, “The Gulf states will need US$ 55 billion to secure an additional 43 gigawatts of electricity and US$ 34 billion to transport them, and the bulk of the funds for development will come from public and private sector portfolios”.
The report pointed out that investment in the energy sector will remain a priority in the Gulf countries, where the role of the private sector is increasing. The Gulf region appears to be in the best position to seize opportunities for public-private partnership, given the continued decline in hydrocarbon prices.
“A large part of the investments will focus on the steps of diversifying and conserving electric power with a renewed focus on solar, renewable energy and smart networks, which are still gaining momentum in the region,” the report said.
Energy storage systems have become more attractive in the Gulf and are a key element in developing smarter networks. Over the next 25 years, GCC networking is expected to generate $ 33 billion of investments and economic abundance.
NβN Tip: Informa Exhibitions, will host the expo at the Dubai World Trade Center from March 5th to 7th 2019 exhibition features five main suites under one roof – power generation, transmission and distribution, lighting, solar energy, energy storage and management. Contact information here.
