USD 76 billion in nuclear energy projects by 2030 in the Middle East

USD 76 billion in nuclear energy projects by 2030 in the Middle East

A specialized report predicts that Arab countries will invest more than USD 76 billion in peaceful nuclear energy projects by 2030 to meet accelerating demand for electricity, but noted that these projects may face financing difficulties in non-oil producing countries.

The report, issued by the Arab Petroleum Investment Corporation (APICORP) of the Organization of Arab Petroleum Exporting Countries (OAPEC), said that these projects will produce about 15.8 gigawatts, or more than 5% of the total production of domestic electric power.

The report pointed out that the financial difficulties are beginning to affect some projects by delaying their implementation, while some countries in the region give priority to other renewable energy projects that are less expensive and which are commensurate with their fiscal austerity policy.

“There is also the problem of poor financial classification of some countries, making it more difficult to obtain loans from local or global markets, which leads to a shift towards small nuclear projects instead of building large reactors such as reactors that are implemented in the UAE and Saudi Arabia.”

He pointed out that some Arab countries will continue their nuclear plans to meet the rapid domestic demand and diversify energy sources and ensure self-sufficiency in the generation of electricity.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.