Qatar is set to spend $125bn in new energy projects, making it the main player in an ambitious power generation drive in Gulf Cooperation Council (GCC) countries.
In order to meet an estimated 6-10 per cent annual growth in power demand, GCC countries are projected to invest more than $300bn in 20 energy projects by 2020. Energy industry analysts estimate that consumption in the region will grow by 7–8 GW annually over the next 15–20 years.
Saudi Arabia is forecast to spend about $100bn on power generation up to 2020. The UAE will also invest about $74bn during 2011-15, according to the Arab Petroleum Investment Corporation.
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