Saudi Electricity Company (SEC) has earmarked US $28 billion over the next three years to add 13,000 MW to meet rising demand in the Arab world¡¯s largest economy.

¡°We already have major projects under construction now,¡±

confirmed SEC CEO Ali Al-Barrak.

The move forms part of an overarching plan to invest $70 billion by 2018 to add 25,000 MW and match demand spurred by a $400 billion, five-year government-spending programme and a burgeoning population.

The Saudi population has tripled in the last 30 years to about 25 million, and the growth will probably continue at about 2% a year, because almost half the population is younger than 20 years old, according to HSBC Holdings.

Saudi Arabia¡¯s electricity use may quadruple to 140 GW a year by 2032, according to forecasts from the King Fahd University of Petroleum and Minerals.