Abdullah Al-Hussayen, Minister of Water and Electricity for , said: “The Kingdom currently produces 40,000MW of electricity. By
He said, while opening a workshop of electricity investment, that his ministry intends to encourage the private sector in participating in electricity projects through build, own, operate systems. The current investment programme includes three projects: the Rabigh plant, which is due to generate 1200MW by 2013; the 11
Al-Hussayen said that the new projects would be financed by local, regional and international banks. The sukuk issues in local capital markets to finance electricity projects have received a good response from investors. As a result of this, the Ministry decided to increase the sukuk issue to $1 billion. He stressed the ability of Saudi banks and other financial institutions in funding electricity projects in the Kingdom.