GDPE0692ICR Saudi Arabia Power Market Outlook to … · 8.1 Key Company in the Saudi Arabia Power Market: Saudi Electricity Company .....50 8.1.1 Company Overview .....50 8.1.2 Business

SAUDI ARABIA POWER MARKET OUTLOOK TO 2030 - MARKET TRENDS, REGULATIONS AND

COMPETITIVE LANDSCAPE

REFERENCE CODE GDPE0692ICR | PUBLICATION DATE SEPTEMBER 2013

Saudi Arabia Power Market Outlook to 2030 – Market Trends, Regulations and Competitive Landscape 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.



Executive Summary

Thermal Power Dominates Power Mix in Saudi Arabia

Thermal sources currently dominate Saudi Arabia’s

power mix. In 2012, thermal sources accounted for

XX% of the country’s total installed capacity,

followed by oil-based capacity with XX% and gas-

based capacity with XX%. The remaining XX%

was contributed by solar Photovoltaic (PV).

Power Market, Saudi Arabia, Cumulative Installed Capacity Breakup by Type of Power Plant (%), 2012

Oil (thermal)Gas (thermal)

Solar PV

Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on: August 26, 2013]

Continuous Increase in Annual Consumption and Generation

Annual electricity consumption increased from XX

Terawatt hours (TWh) in 2000 to XX TWh in 2012

at a Compound Annual Growth Rate (CAGR) of

XX%. This growth in consumption was the result of

the combined effect of economic and population

growth.

Annual electricity generation increased during the

same period from XX TWh in 2000 to XX TWh in

2012 at a CAGR of XX%. The growth of electricity

generation has been almost entirely from thermal

sources, while renewable generation is still in its

nascent stages.

Power Market, Saudi Arabia, Annual Electricity Consumption and Generation (TWh), 2000–2012

2000 2006 2012

Annu

al c

onsu

mpt

ion

and

gene

ratio

n

Annual consumption (TWh) Annual power generation (TWh)

Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on: August 26, 2013]




Table of Contents

1 Table of Contents

1 Table of Contents ....................................................................................................................... 4

1.1 List of Tables .......................................................................................................................... 7

1.2 List of Figures ......................................................................................................................... 8

2 Introduction ................................................................................................................................. 9

2.1 GlobalData Report Guidance ................................................................................................ 10

3 Saudi Arabia, Power Market, Snapshot .................................................................................... 11

3.1 Saudi Arabia, Power Market, Macroeconomic Factors ......................................................... 11

3.2 Supply Security .................................................................................................................... 14

3.3 Generation Infrastructure ...................................................................................................... 14

3.4 Transmission Infrastructure .................................................................................................. 15

3.5 Opportunities ........................................................................................................................ 15

3.6 Challenges ........................................................................................................................... 16

4 Saudi Arabia, Power Market, Market Analysis........................................................................... 17

4.1 Saudi Arabia, Power Market, Supply Structure ..................................................................... 17

4.2 Saudi Arabia, Power Market, Key Market Players................................................................. 18

4.2.1 Financial Performance .................................................................................................... 19

4.2.2 Key Financial Ratios and Inference ................................................................................ 19

4.3 Saudi Arabia, Power Market, Financial Deals ....................................................................... 21

4.3.1 Deal Volume and Value Analysis, 2004–2012 ................................................................ 21

4.3.2 Deals, Split by Type, 2012 .............................................................................................. 23

4.4 Saudi Arabia, Power Market, Demand Structure .................................................................. 23

4.4.1 Breakup of Consumption by Sector, 2012 ....................................................................... 26

5 Saudi Arabia, Power Market, Regulatory Scenario ................................................................... 27

5.1 Saudi Arabia, Power Market, Key Electricity Policies ............................................................ 27

5.1.1 The Electricity Law.......................................................................................................... 27

5.1.2 Private Participation and Reforms ................................................................................... 28




Table of Contents

5.1.3 Renewable Power Policy ................................................................................................ 29

5.2 Saudi Arabia, Power Market, Foreign Investment Scenario .................................................. 31

6 Saudi Arabia, Power Market, Capacity and Generation Overview ............................................. 32

6.1 Saudi Arabia, Power Market, Cumulative Installed Capacity, Breakup by Type of Power Plant, 2012 ........................................................................................................................... 32

6.2 Saudi Arabia, Power Market, Cumulative Installed Capacity and Annual Power Generation, 2000–2030 ........................................................................................................................... 33

6.2.1 Cumulative Installed Thermal Capacity and Annual Thermal Power Generation, 2000–2030 ............................................................................................................................... 36

6.2.2 Cumulative Nuclear Installed Capacity and Annual Nuclear Power Generation, 2000–2030 ............................................................................................................................... 42

6.2.3 Cumulative Installed Renewable Capacity and Annual Renewable Power Generation, 2000–2030...................................................................................................................... 42

7 Saudi Arabia, Power Market, Transmission and Distribution Overview ..................................... 45

7.1 Saudi Arabia, Power Market, Transmission Overview .......................................................... 45

7.1.1 Planned Domestic Interconnection Projects .................................................................... 47

7.2 Saudi Arabia, Power Market, Distribution Overview .............................................................. 48

7.3 Saudi Arabia, Power Market, Grid Interconnection ............................................................... 49

7.3.1 Electricity Import and Export Trends, (2010–2011) ......................................................... 49

7.4 Saudi Arabia, Power Market, Electricity Trading ................................................................... 49

8 Saudi Arabia, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies ............................................................................................................. 50

8.1 Key Company in the Saudi Arabia Power Market: Saudi Electricity Company ...................... 50

8.1.1 Company Overview ........................................................................................................ 50

8.1.2 Business Description ...................................................................................................... 50

8.1.3 SWOT Overview ............................................................................................................. 51

9 Appendix................................................................................................................................... 55

9.1 Market Definitions ................................................................................................................. 55

9.1.1 Power ............................................................................................................................. 55




Table of Contents

9.1.2 Installed Capacity ........................................................................................................... 55

9.1.3 Active Installed Capacity ................................................................................................. 55

9.1.4 Electricity Generation ...................................................................................................... 55

9.1.5 Electricity Consumption .................................................................................................. 55

9.1.6 Thermal Power Plant ...................................................................................................... 55

9.1.7 Hydropower Plant ........................................................................................................... 55

9.1.8 Nuclear Power ................................................................................................................ 56

9.1.9 Renewable Energy Resources........................................................................................ 56

9.2 Abbreviations........................................................................................................................ 56

9.3 Bibliography.......................................................................................................................... 57

9.4 GlobalData’s Methodology .................................................................................................... 59

9.4.1 Coverage ........................................................................................................................ 59

9.4.2 Secondary Research and Analysis ................................................................................. 59

9.4.3 Primary Research and Analysis ...................................................................................... 60

9.5 Contact Us ........................................................................................................................... 60

9.6 Disclaimer ............................................................................................................................ 61




Table of Contents

1.1 List of Tables

Table 1: Power Market, Saudi Arabia, Gross Domestic Product ($bn), Population (million) and Annual

Electricity Consumption (TWh), 2000–2018 ................................................................................ 13

Table 2: Power Market, Saudi Arabia, Market Share of Power Generation Companies (%), 2012 ............. 18

Table 3: Power Market, Saudi Arabia, Deal Value ($bn) and Deal Volume (Units), 2004–2012 ................. 22

Table 4: Power Market, Saudi Arabia, Annual Electricity Consumption (TWh), 2000–2030 ....................... 25

Table 5: Power Market, Saudi Arabia, Electricity Consumption by Sector (%), 2012 ................................. 26

Table 6: Power Market, Saudi Arabia, Capacity Targets for Renewable Technologies (GW), 2030 ........... 29

Table 7: Power Market, Saudi Arabia, Technology-specific Capacity Targets (MW), 2013 ........................ 30

Table 8: Power Market, Saudi Arabia, Cumulative Installed Capacity Breakup by Type of Power Plant (%),

2012........................................................................................................................................... 32

Table 9: Power Market, Saudi Arabia, Cumulative Installed Capacity (GW) and Annual Power Generation

(TWh), 2000–2030 ..................................................................................................................... 35

Table 10: Power Market, Saudi Arabia, Oil and Gas Production and Consumption (Tons and %), 2002–2012

.................................................................................................................................................. 36

Table 11: Power Market, Saudi Arabia, Leading Active Thermal Power Plants (MW), 2012 ........................ 38

Table 12: Power Market, Saudi Arabia, Leading Upcoming Thermal Power Plants (MW), 2012 .................. 39

Table 13: Power Market, Saudi Arabia, Cumulative Installed Thermal Capacity (GW) and Annual Thermal

Power Generation (TWh), 2000–2030 ........................................................................................ 41

Table 14: Power Market, Saudi Arabia, Cumulative Renewable Installed Capacity (MW) and Annual

Renewable Power Generation (GWh), 2000–2030 ..................................................................... 44

Table 15: Power Market, Saudi Arabia, Growth of Transmission System (Ckm), 2000–2020 ...................... 46

Table 16: Power Market, Saudi Arabia, Planned Interconnection Projects, 2014–2019 ............................... 47

Table 17: Power Market, Saudi Arabia, Growth of Distribution System (Ckm), 2000–2020.......................... 48

Table 18: Power Market, Saudi Arabia, Saudi Electricity Company, SWOT Analysis .................................. 51

Table 19: Abbreviations ............................................................................................................................. 56




Table of Contents

1.2 List of Figures

Figure 1: Power Market, Saudi Arabia, Gross Domestic Product ($bn), Population (million), and Annual

Electricity Consumption (TWh), 2000–2018 ................................................................................ 12

Figure 2: Power Market, Saudi Arabia, Market Share of Power Generation Companies (%), 2012 ............. 18

Figure 3: Power Market, Saudi Arabia, Deal Value ($bn) and Deal Volume (Units), 2004–2012 ................. 22

Figure 4: Power Market, Saudi Arabia, Annual Electricity Consumption (TWh), 2000–2030 ....................... 24

Figure 5: Power Market, Saudi Arabia, Electricity Consumption by Sector (%), 2012 ................................. 26

Figure 6: Power Market, Saudi Arabia, Cumulative Installed Capacity Breakup by Type of Power Plant (%),

2012........................................................................................................................................... 32

Figure 7: Power Market, Saudi Arabia, Cumulative Installed Capacity (GW) and Annual Power Generation

(TWh), 2000–2030 ..................................................................................................................... 34

Figure 8: Power Market, Saudi Arabia, Cumulative Installed Thermal Capacity (GW) and Annual Thermal

Power Generation (TWh), 2000–2030 ........................................................................................ 40

Figure 9: Power Market, Saudi Arabia, Cumulative Renewable Installed Capacity (MW) and Annual

Renewable Power Generation (GWh), 2000–2030 ..................................................................... 43




Introduction

2 Introduction

Saudi Arabia is a major oil economy, and the government plays a prominent role in this sector. The

country, which has one of the largest proven reserves of oil in the world, is also one of the largest

exporters of oil in the world and plays a major role in the Organization of the Petroleum Exporting

Countries.

Although the government’s influence is largely felt in all aspects of business and industry in the

county, Saudi Arabia has been encouraging private sector growth in order to diversify its economy

and reduce unemployment. In an effort to increase foreign investment, the country acceded to the

World Trade Organization (WTO) in December 2005. The country plans to spend a total of $XX

billion on social development and infrastructure projects during the period from 2010 to 2014 and

has established six economic cities in order to attract increased foreign investment (CIA, 2013).

With the increase in petroleum revenue in 1974, the country became one of the fastest growing

economies in the world with a high volume of trade with other counties. In 2010, the annual real

Gross Domestic Product (GDP) growth amounted to XX%, and in 2011 it was even higher at XX%.

Annual growth in 2012 slowed to XX%. The country is dependent upon petroleum export for a large

share of its revenue, and was affected during the recession period due to reduced demand for

fossil fuels. GDP annual growth in 2009 amounted to only XX%.

However, due to the surplus earnings from oil exports in previous years, Saudi Arabia was less

affected by the recession than other countries. In Saudi Arabia, the industrial sector accounted for

an estimated XX% of GDP in 2012, followed by the services sector with XX% and the agriculture

sector with XX% of the GDP. The petroleum sector, in general, accounts for approximately XX% of

the country’s revenue and XX% of GDP (CIA, 2013).

The Ministry of Water and Electricity is responsible for the implementation of policies, plans and

strategies for the electricity industry. The Electricity and Cogeneration Regulatory Authority (ECRA)

was formed in November 2001 by the Council of Ministers through Decision No. XX. The authority

is responsible for the regulation of electricity services and cogeneration, the issuance of licenses

for the generation, transmission, distribution and trade of electricity, and the review of tariffs. The

country is dependent upon thermal capacity to meet its power requirements, due to the abundant

availability of petroleum resources.




Introduction

Saudi Arabia has the highest power consumption per capita in the Middle East, which has been

growing at a fast pace over the past decade. The Saudi Electricity Company (SEC) provides most

of the power generated in the country, and the entire distribution. Transmission is provided by the

National Grid, which is a subsidiary of SEC.

Saudi Arabia is working towards the production of power from renewable sources of energy and is

playing an active role in the development of new technologies to exploit and use these renewable

sources. Saudi Arabia has set a target of XX Gigawatts (GW) from renewable sources by 2030 and

also plans to explore nuclear energy for electricity production. In order to realize its target and

increase the share of alternative energy, the country plans to invest $100 billion in solar power

alone over the next XX years (Connor, 2012). Saudi Arabia is looking to reduce the internal

consumption of fossil fuels and use these resources for export, which will benefit the economy.

2.1 GlobalData Report Guidance

The executive summary captures the key growth trends in the Saudi Arabian power market.

Chapter three provides a snapshot of the key parameters that impact Saudi Arabia’s power

sector, as well as key points about the Saudi Arabia power market.

Chapter four provides power market analysis for Saudi Arabia.

Chapter five details the regulatory scenario of the power market and the inward foreign

investment scenario in Saudi Arabia.

Chapter six provides information on Saudi Arabia’s cumulative installed capacity and annual

generation trends and by individual generation source.

Chapter seven describes the power transmission and distribution infrastructure in Saudi Arabia

and provides information on interconnectors with neighboring countries. The section also

covers electricity import and export and upcoming grid-related projects in Saudi Arabia.

Chapter eight describes the competitive landscape of Saudi Arabia’s power market, with a

complete description and Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis

of the leading companies.

Note: all 2012 market numbers provided in the report are estimates, except where actual data was

available.




Saudi Arabia, Power Market, Snapshot

3 Saudi Arabia, Power Market, Snapshot

3.1 Saudi Arabia, Power Market, Macroeconomic Factors

Saudi Arabia’s GDP increased from $175.7 billion in 2000 to $329.6 billion in 2012 at a Compound

Annual Growth Rate (CAGR) of 5.4%. This total is expected to have increased to $425.3 billion by

2018, growing at a forecast CAGR of 4.3% from 2013.





Figure 1: Power Market, Saudi Arabia, Gross Domestic Product ($bn), Population (million), and Annual Electricity Consumption (TWh), 2000–2018

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Ann

ual e

lect

ricity

con

sum

ptio

n

GD

P a

nd p

opul

atio

n

GDP (constant prices) ($bn) Population (million) Power consumption (TWh) Source: GlobalData; IMF, 2013





Table 1: Power Market, Saudi Arabia, Gross Domestic Product ($bn), Population (million) and Annual Electricity Consumption (TWh), 2000–2018

Year GDP (constant prices) ($bn) Population (million) Power consumption (TWh)

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Source: GlobalData; IMF, 2013




Saudi Arabia, Power Market, Market Analysis

4.2 Saudi Arabia, Power Market, Key Market Players

The SEC is the largest power generation utility in the country, accounting for around XX% of Saudi

Arabia’s generation capacity market share in 2012. SEC was followed in 2012 by the Water and

Electricity Company, a private generation utility with around XX% of the market share, followed by

IPPs controlled by the SEC with around XX%, while other smaller generators not related to the

SEC controlled around XX%.

Figure 2: Power Market, Saudi Arabia, Market Share of Power Generation Companies (%), 2012

Saudi Electricity Company (SEC)

Water & Electricity Company

SEC-controlled IPPs

Others

Source: GlobalData; Al Dekhayl, 2012

Table 2: Power Market, Saudi Arabia, Market Share of Power Generation Companies (%), 2012 Company Share (%)

Saudi Electricity Company (SEC)

Water & Electricity Company

SEC-controlled IPPs

Others

Source: GlobalData; Al Dekhayl, 2012




Appendix

9 Appendix

9.1 Market Definitions

9.1.1 Power

The rate of production, transfer or energy use. It is usually related to electricity. Measured in watts

and often expressed in kilowatts (kW) or Megawatts (MW). It is also known as "real" or "active"

power.

9.1.2 Installed Capacity

The generator’s nameplate capacity (as stated by the manufacturer) or the maximum rated output

of a generator under given conditions. Installed capacity is given in MW on a nameplate affixed to

the generator.

9.1.3 Active Installed Capacity

The component of electric power that actually performs work. It is given in kW or MW.

9.1.4 Electricity Generation

The production of electric energy, achieved through the transformation of other forms of energy.

This term also refers to the amount of electric energy produced. It is measured in Gigawatt hours

(GWh).

9.1.5 Electricity Consumption

The sum of electricity generated, plus imports, minus exports, minus transmission and distribution

losses. It is measured in GWh.

9.1.6 Thermal Power Plant

A plant in which turbine generators are driven by burning fossil fuels.

9.1.7 Hydropower Plant

A plant in which the turbine generators are driven by falling water.




Appendix

9.1.8 Nuclear Power

The electricity generated by the use of thermal energy, released from the fission of nuclear fuel in a

reactor.

9.1.9 Renewable Energy Resources

Naturally replenishing energy resources that are limited in the amount of energy that is available

per unit of time. Biomass, geothermal, solar and wind energy are all renewable resources.

9.2 Abbreviations

Table 19: Abbreviations Abbreviations

CAGR Compound Annual Growth Rate

CCGT Combined-Cycle Gas Turbine

Ckm Circuit kilometer

CSP Concentrated Solar Power

ECRA Electricity and Cogeneration Regulatory Authority

GCC Gulf Co-operation Council

GCCIA Gulf Co-operation Council Interconnection Authority

GDP Gross Domestic Product

GW Gigawatt

GWh Gigawatt hour

HVDC High-Voltage Direct Current

Hz Hertz

IGCC Integrated Gasification Combined Cycle

IPP Independent Power Producer

K.A. CARE King Abdullah City for Atomic and Renewable Energy

kV kilovolt

MW Megawatt

PV Photovoltaic

SEC Saudi Electricity Company

SIDF Saudi Industrial Development Funds

TWh Terawatt hour

WTO World Trade Organization

Source: GlobalData




Appendix

9.3 Bibliography

Al Dekhayl (2012). SAUDI ELECTRICITY COMPANY (SEC): SAUDI ARABIA. US Saudi

Arabian Business Council, December 2012. Available from: http://www.us-

sabc.org/files/public/PowerGen2012Presentation.pdf

Arab Union of Electricity (2011). Statistical Bulletin, 2011, 20th Issue. Arab Union of Electricity.

Available from: http://www.auptde.org/Article_Files/2011.pdf

Arab Union of Electricity (2012). Exchange Energy (GWh). Arab Union of Electricity. Available

from: http://www.auptde.org/Article_Files/main2012.pdf

BP (2013). BP Statistical Review of World Energy, June 2013 [database]. Available at:

http://www.bp.com/content/dam/bp/excel/Statistical-

Review/statistical_review_of_world_energy_2013_workbook.xlsx [Accessed on: August 27,

2013]

CIA (2013). Saudi Arabia: The World Factbook. Central Intelligence Agency. Available from:

https://www.cia.gov/library/publications/the-world-factbook/geos/sa.html [Accessed on August

28, 2013]

Connor K (2012). Energy & Utilities, Annual Review: Saudi Arabia. Squire Sanders, July 2012.

Available from: http://www.squiresanders.com/files/Publication/d4438a2f-1fb2-43a0-ad69-

57fbb262ff87/Presentation/PublicationAttachment/bbd5511b-b346-4881-9715-

614e79b0a6fa/Energy-Utilities-2012-FW-Annual-Review.pdf

IMF (2013). World Economic Outlook Database, April 2013 [database]. Available at:

http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/download.aspx [Accessed on August

28, 2013]

K.A.CARE (2012). Building the Renewable Energy Sector in Saudi Arabia. King Abdullah City

for Atomic and Renewable Energy, 2013. Available from:

http://www.irena.org/DocumentDownloads/events/MaltaSeptember2012/5_Ibrahim_Babelli.pdf




Appendix

K.A.CARE (2013). Proposed Competitive Procurement Process for the Renewable Energy

Program. King Abdullah City for Atomic and Renewable Energy, 2013. Available from:

http://www.kacare.gov.sa/cpp/sites/default/files/K.A.CARE%20Proposed%20Competitive%20P

rocurement%20Process%20for%20the%20Renewable%20Energy%20Program%20-

%202013.pdf

Misa ET (2013). “Saudi Arabia Pushes Renewable Energy Programs, Wants to Become Solar-

Powered Efficient and Capable by 2032”, International Business Times AU, July 4, 2013.

Available from: http://au.ibtimes.com/articles/486391/20130704/saudi-arabia-renewable-

energy-solar-power.htm#.UiBJUWUoFJF [Accessed on: August 27, 2013]

Taha SM (2013). “Electricity generation: KSA to spend SR190bn”. Arab News, August 17,

2013. Available from: http://www.arabnews.com/news/461479 [Accessed on: August 28, 2013]

The World Bank (2013). Ease of Doing Business in Saudi Arabia. The World Bank, 2013.

Available from: http://www.doingbusiness.org/data/exploreeconomies/saudi-arabia/ [Accessed

on: August 27, 2013]

WNA (2013). Nuclear Power in Saudi Arabia. World Nuclear Association, June 2013. Available

from: http://world-nuclear.org/info/Country-Profiles/Countries-O-S/Saudi-

Arabia/#.UiBI1WUoFJF [Accessed on: August 27, 2013]




Appendix

9.4 GlobalData’s Methodology

GlobalData’s dedicated research and analysis teams consist of experienced professionals with

backgrounds in marketing, market research and consulting in the power industry, and advanced

statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

the Strategic and Competitive Intelligence Professionals (www.scip.org).

The following research methodology is followed for all country outlook reports.

9.4.1 Coverage

This report gives detailed information on Saudi Arabia’s power market. It examines Saudi Arabia’s

power market structure and provides historical and forecast numbers for generation, capacity and

consumption up to 2030. The report provides insights on the market’s regulatory structure, import

and export trends, competitive landscape and leading active and upcoming power projects.

9.4.2 Secondary Research and Analysis

The capacity, generation and consumption data is collected and validated using a number of

secondary resources, including, but not limited to:

Government agencies, ministerial websites, industry associations, the World Bank, statistical

databases

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals, market reports and other literature

GlobalData’s proprietary databases, including the Capacity and Generation Database, the

Power Plant Database and the Transmission and Distribution Database.

Further to this, the following secondary information is collected and analyzed to project Saudi

Arabia’s power market scenario through to 2030, analyzing factors such as the following:

Saudi Arabia’s macroeconomic scenario

Government regulations, policies and targets

Government and private sector investments




Appendix

Contract and deal announcements

Utility expansion plans

The sector’s historic track record

Other qualitative insights built through secondary research and analysis of company websites,

annual reports, investor presentations, industry and trade journals, and data from industry

associations.

9.4.3 Primary Research and Analysis

Secondary research is further complemented through primary interviews with industry participants

to verify and fine-tune the market numbers obtained through secondary research and get first-hand

information on industry trends.

The participants are drawn from a diverse set of backgrounds, including equipment manufacturers,

industry associations, government bodies, utilities, distributors, and academia. The participants

include, but are not limited to, C-level executives, industry consultants, academic experts, business

development and sales managers, purchasing managers, plant managers, government officials,

and industry spokespeople.




Appendix

9.6 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

Documents

GDPE0692ICR Saudi Arabia Power Market Outlook to … · 8.1 Key Company in the Saudi Arabia Power Market: Saudi Electricity Company .....50 8.1.1 Company Overview .....50 8.1.2 Business