GE Energy has signed agreements worth approximately $700 million to supply power generation equipment and long-term services for a new gas-fired, independent power plant that will help Saudi Arabia, the Middle East's largest economy, meet a growing need for residential and industrial power.
Egypt’s Electricity Minister Hassan Younis has reported that a total of 2500 MW, generated exclusively from wind power, will soon be added to the national power grid.
Japan and Kuwait have reached an agreement to cooperate in building nuclear power plants and encouraging the peaceful use of nuclear energy.
Ahmet Aksu, Vice President of the Turkish Privatisation Authority, has said that the country will soon start to privatise electricity generation.
With Iran’s nuclear power plant at Bushehr approaching a major milestone, Iranian officials say that they are looking to expand the programme with more such plants.
A senior South Korean government official said that it is on the verge of signing a deal to supply a nuclear power plant to Turkey ahead of schedule.
Iran will start generation of electricity from nuclear power in early December, according to Mohammad Ahmadian, Managing Director of Iran’s Atomic Energy Generation and Development Company.
It has been reported that about $80 billion worth of investment is needed in Saudi Arabia by 2018 to meet rising power demands in the country.
Toshiba, Shaw and Exelon have signed a deal with Saudi Arabia to pursue several nuclear power contracts in Saudi Arabia.
The Middle East’s electricity providers have been urged to introduce variable tariff schemes that charge consumers more for usage during peak hours in an effort to ease demand.