Dubai to allow private investment in power
Dubai, June 24, 2010
The Dubai government will allow private sector to invest in power projects in the future but participation will not exceed 40 percent, the vice chairman of the Supreme Council of Energy said in a newspaper interview.
The government is considering coal and nuclear technologies to diversify its energy resources for future demand, Saeed Mohammad Al Tayer told the Gulf News on Thursday.
The newly created Supreme Council of Energy hired consulting firm McKinsey & Co to develop an energy strategy to explore alternative energy resources in an effort to meet future demand as power demand in Dubai increases due to strong economic growth.
'Power demand in Dubai has reached the peak in June,' said Al Tayer in the interview. 'It is 5.6 percent higher than the previous level and expected to grow further.'
Al Tayer said the council will complete its study of the development of short- and long-term strategic plans for the energy sector by August.
'The coal-fired and nuclear energy options are followed by the most advanced industrial countries, the US, China, Korea, which we hope to adopt as well,' Al Tayer said. - Reuters