Saudi Arabia has earmarked around SR502.5 billion ($134 billion) for power generation and water projects in a bid to raise electrical generation at 49 per cent through 2019, said organisers ahead of an upcoming energy summit in Riyadh.

Saudi Energy 2013, the 16th international trade exhibition for electricity power generation, alternative energy, water technology, lighting & HVAC will run from May 26 to 29 at the Riyadh International Convention and Exhibition Centre.

Saudi Arabia’s energy sector has been experiencing rapid growth due to burgeoning demand, economic expansion, and solid investment flows. A 13 per cent average electricity generation growth rate is needed by 2015 to meet demand; investments in electricity projects to address supply requirements have already cost SR140.7 billion in 2012 alone.

Saudi Energy covers major aspects of the energy domain, as it features four concurrent events that are: Saudi Elenex, Saudi Luminex, Saudi Aircon, and Saudi Water Tech.

“Factors such as a region-leading economy, ongoing structural reforms, a growing and young population and a diversifying business landscape are all boosting Saudi Arabia’s demand to raise its energy output to unprecedented levels,” said Khaled Daou, project manager of Saudi Energy at organiser Riyadh Exhibitions Company.

“By 2022 we could see electricity projects collectively worth SR300 billion up and running across the country. The rapid expansion of the Kingdom’s energy sector requires keen insights on specific consumer needs, market and partnership opportunities, best practices, and the right technologies – all of which are precisely what Saudi Energy 2013 aims to deliver,” he added.

Saudi Energy is certified by the UFI – The Global Association of the Exhibition Industry. Last year’s edition welcomed 338 exhibitors and 7,941 visitors from 11 countries. – TradeArabia News Service