Dammam, Saudi Arabia; January 16, 2014: Under the patronage and presence of H.E Eng. Abdullah Al-Hussayen, Minister of Water & Electricity, the Saudi Ministry of Water & Electricity and GE (NYSE: GE) organized a strategic forum titled ‘Partners in Energy Supply Efficiency’ to discuss innovative approaches to enhance the Kingdom’s energy supply efficiency at the Saudi GE Innovation Center in Dhahran Techno-Valley.
The Forum was attended by experts representing the Ministry, Saudi Electricity & Cogeneration Regulatory Authority (ECRA), Saline Water Conversion Corporation, Saudi Electricity Company, Saudi Aramco, Saudi Energy Efficiency Center, King Fahad University of Petroleum & Minerals, and other key industry stakeholders.
The event presented a detailed landscape of the Saudi energy sector, and discussed the trends in energy supply efficiency, regulations to promote efficiency, partnerships to overcome related challenges and the solutions needed for the future.
His Excellency Abdullah Al-Hussayen, Saudi Minister of Water & Electricity, said: “The authorities responsible for power service are taking tremendous efforts to strengthen the sector. The key challenge is the increase in annual demand for power, at an average 8-9 per cent. It is also expected that the peak load will increase to 90K MWs within the next 10 years. To address this, investments of SAR 500 billion are required in addition to the cost to operate the plants, which need large amounts of fuel. It is therefore a focus for us to reduce the costs involved, by working together with partners to enhance energy supply efficiency. ”
Dr. Azeez Mohammed, President & CEO, Power Generation Services - GE Power & Water, Middle East & Africa, said: “With about 500 GE turbines generating more than 50 per cent of Saudi Arabia’s power, we serve as a long-term partner in meeting the energy requirements of the Kingdom. We conducted a detailed supply side energy-efficiency study, which clearly identifies solutions that could support the Kingdom of Saudi Arabia reduce its fuel consumption while providing simultaneously higher output power.”
The key finding of the study is that energy efficiency is the solution toward utilizing the energy in an effective manner while saving on resources especially when compared to other possible solutions. This takes into account the implementation cost, installation of new power generation facilities, operating costs, implementation time frame and environmental impact. “We are committed to introducing an energy efficiency platform that supports key stakeholders to create a culture of aligned business thinking and decision making to drive efficiency in the Kingdom,” added Azeez.
Dr. Mohammad Khorsheed, General Manager of GE Saudi Innovation Center, added: “With demand for power in the Kingdom growing at an estimated 7 per cent annually, GE is committed to be a strong partner in Saudi Arabia’s developmental needs by researching and developing new technologies that will enhance the efficiency of the currently installed base. An 8 per cent increase in energy efficiency practices will help save over SAR 50 billion over ten years, while a 10 per cent reduction in oil consumption within the Kingdom in 2030 that can be achieved through efficiency improvements will result in the release of 255 million barrels for export achieving additional revenue of US$28 billion/year.”
According to the GE study, the use of oil also has a strong environmental impact, which can be optimized through efficient technologies. Some 452 million metric tonnes of carbon dioxide were emitted in 2010 through power fuel consumption, while the per capita carbon dioxide emissions stand at 16.5 tons.
As part of its US$1 billion investment commitment to the Kingdom, the company has unveiled its Saudi GE Innovation Center in Dhahran Techno-Valley and also expanded its GE Manufacturing Technology Center in Dammam.
Aimed at fostering home-grown innovation, the 2,200 sq. meter Innovation Center works closely with customers on addressing the Kingdom’s priorities in creating more energy efficient and affordable healthcare solutions. The Center collaborates with partners, customers, key think tanks and academic institutions to promote the country’s innovation ecosystem.
The GE Manufacturing Technology Center has five key components: a modern manufacturing facility of high end equipment for the power, water and oil & gas industries; a service and repair center for advanced turbine components; a training center that offers the latest technology and managerial courses; a Research & Development Center; and a state-of-the-art high-speed balance facility.
With three offices and seven facilities Saudi Arabia accounts for the largest GE workforce in the Middle East with over 1,000 employees driving the healthcare, transportation, oil and gas, power, water and aviation businesses.
*Source: Brattle Group Study
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For more information, please contact:
GE Communications Manager, Saudi Arabia & Bahrain
GE Communications Leader, North Africa