Gulf Cooperation Council to invest $252 billion in power sector

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ABU DHABI, Aug 25 (Gulf News): Gulf Cooperation Council (GCC) states are set to invest $252 billion (Dh925.62 billion) over the next five years on projects for setting up new power production plants, distribution systems and supply grids, recent reports claimed.
In the UAE, Shams 1 will be one of the world's largest concentrated solar power plants, with a capacity of 100 megawatts.
As energy bills keep rising, with the galloping cost of production and transmission internationally, designers, developers and end-users are increasingly looking to innovative new technology to reduce costs.
With lighting taking up 19 per cent of all electricity worldwide, according to statistics from the Interntaional Energy Agency (IEA), interest in energy-efficient lighting systems and design is spreading.
Epoc Messe Frankfurt, organisers of Light Middle East 2011, the key regional trade platform for lighting design and technology, have reported considerable interest in the energy and cost-saving potential of modern lighting systems.
"With energy becoming ever more expensive, there is huge interest in the cost-reduction potential afforded by new technology," said Ahmad Pauwels, Chief Executive Officer of Epoc Messe Frankfurt.