Saudi Arabia needs investments in energy of 500 billion riyals

ArabiaWeather.com- Saudi Arabia needs to implement electricity projects worth 500 billion riyals over the next ten years to meet the growing demand for energy, according to the Minister of Water and Electricity, Abdullah Al-Hussain.

He expected the total peak loads to reach 90,000 megawatts in 2022, which currently stands at about 70,000 megawatts, according to Al Arabiya Net.

It is noteworthy that the Saudi Electricity Company announced that the highest peak loads so far were last August, when loads increased by 10%, compared to their level a year ago, to 62,260 megawatts.

For his part, Deputy Minister of Petroleum and Mineral Resources Prince Abdulaziz bin Salman confirmed that domestic energy consumption amounted to 38% of the total oil and gas resources, and he expected Saudi Arabia to provide 1.5 million barrels per day by 2030 through a program for efficient use.