Web Exclusive | February 2013
Demand for power to double by 2020: Frost & Sullivan
According to Frost & Sullivan forecast, the demand for power to double and reach 215 gigawatts (gw) by 2020. As the world is embracing renewable energy, the Gulf Cooperative Council (GCC) is also undergoing a major change in the wake of economic diversification programmes, the global recession and the Arab spring.
Although the GCC possesses 22.5 per cent of the world's proven natural gas reserves and 35 per cent of the world's proven oil reserves, these conventional fuel sources are not expected to match the pace of escalating power demand in coming years.
Thus, to combat this growing demand, the GCC is reconsidering its energy mix and looking to incorporate renewable energy as a significant contributor. As per current plans announced for renewable energy adoption, there is a 25 gw potential for the same in the GCC up to 2020. Frost & Sullivan as supporter for World Future Energy Summit 2013 has authored a relevant Whitepaper titled 'The Future for 'Green' in the GCC's Energy Sector".
The Whitepaper focused on the strong potential of renewables and smart grids in the GCC also emphasises on the need for a focused approach to create an environment that can nurture the growth of renewable energy and smart grids in the region.