BMI View: Our buoyant outlook for Saudi Arabia’s power sector is underpinned by the kingdom’s relatively strong macroeconomic trajectory, supportive demographics and ambitious power sector capacity expansion plans. With Saudi holding a fifth of the world’s oil reserves, the country is not only attempting to raise its electricity generating capacity in order to meet rapidly growing demand, but it is also attempting to diversify its power generation mix so as to guarantee that oil is prioritised for use in the country’s refining sector and, more importantly, for export – guaranteeing lucrative revenues. To this end, ensuring that the kingdom maintains …
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