The demand for power is increasing rapidly in Saudi Arabia. The rising population and affluent lifestyle are two of the most important factors that have resulted in increased energy consumption. With the domestic electricity demand rising at a rate of 10% per year in the kingdom, an urgent need has been felt to increase electricity production.
To meet increased domestic electricity requirements, Saudi Arabia has finalized a number of electricity projects with its neighboring countries. A $1.6 billion power project that will link the electricity grids of Saudi Arabia and Kuwait is one of the major electricity projects in the region. The project will allow these countries to generate 3,000 megawatts of electricity. The project is expected to help both countries to meet their domestic electricity requirements during the peak summer season.
The tendering process for Saudi Arabia and Kuwait electricity project is expected to start at the end of the year 2014. Joint electricity projects with other countries are also in the pipeline. These projects are expected to help Saudi Arabia boost its domestic energy consumption. At the same time, the upcoming power projects will also provide an opportunity to the investors to make a profitable investment in the country. There are many reliable sites that provide Saudi Arabia tender information to the users.