PROSPECTS for businessmen engaged in the power sector are growing fast following large-scale investments made or about to be made in Saudi Arabia’s power sector to keep abreast of rising demand for electricity.

A trade show organised by Riyadh Exhibitions Company (REC) and Informa Exhibitions seeks to bring manufacturers and traders close to high-profile government officials and EPC contractors tasked with realising power projects.

Saudi Energy 2014, the latest edition of the largest and most specialised energy exhibition in the Middle East, is to be held from May 26 to 28 at the Riyadh International Convention and Exhibition Centre.

Recent industry reports have revealed that power consumption in Saudi Arabia continues to grow at a steady rate. Over the last decade, the kingdom witnessed an average annual increase of eight per cent in electricity demand, with the number of subscribers significantly rising by an average of 5.2 per cent. Demand in the housing sector particularly remains strong, with the sector consuming 50 per cent of the kingdom’s total electricity production. Industrial electricity consumption, meantime, grew by an average of 6.9 per cent.

The kingdom’s power generation capacity needs to expand by an average rate of 13 per cent until 2015 to meet the increasing demand for electricity. The Saudi Government continues to make major investments in order to sustain growth and further enhance the power sector. In 2012 alone, the value of investments made on power-related projects was pegged at $37.5 billion.

Fahad Al Athel, deputy general manager, REC, said: “The demand for electricity generation is rapidly increasing in Saudi Arabia, one of the world’s largest energy producers. The expanding local energy sector is being bolstered further by the booming industrial sector and growing government investments. Saudi Energy 2014 aims to highlight and enhance this growth by providing a venue for exhibitors to network and share their expertise with leading industry peers. We are looking forward to attracting more participants in this year’s event.”

Saudi Energy yearly attracts hundreds of local and international organisations and more than 7,000 visitors worldwide.