Business Monitor International (BMI) has issued a report on the power sector of the United Arab Emirates (UAE) that predicts a growth of nearly 40 per cent in generation capacity by 2020.
Yet the report also forecasts that the UAE’s demand for energy will rise by 43.6 per cent from 2011 to 2020, with growth accelerating from 17.6 per cent for 2011″15 up to 22.1 per cent for 2016″20.
By 2015 the UAE will account for 7.33 per cent of Middle East and Africa (MEA) power generation, according to the report. “Between 2011 and 2020, BMI forecast an increase in UAE electricity generation of 39.6 per cent, near the bottom of the range for the MEA region.”
In terms of its power business environment BMI ranks the UAE second only to Qatar in the region. The ranking reflects the UAE’s developed competitive landscape, progress in privatization, expansion in population, and growth in power consumption.
“BMI forecasts real GDP growth averaging 3.53 percent per annum between 2011 and 2015,” said the report.
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