Mitsubishi Power Committed to Supporting Saudi Arabia’s Energy Demand for Vision 2030 Prosperity
In a riveting interview with Arab News, Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia, delved into the company’s transformative journey, offering a comprehensive overview of their vision, initiatives, and contributions to the Kingdom’s energy sector.
Rising Energy Demand in Saudi Arabia
Saudi Arabia is grappling with a surging electricity demand driven by population growth and increased economic activity. A 2022 study by Umm Al-Qura University revealed a significant rise in electricity consumption in the Kingdom since 2010, with per capita consumption increasing by 20 percent.
Meeting Growing Demand for Power
With projections indicating a peak demand of 84 GW by 2030 and 103 GW by 2040, Al-Juraid emphasized Mitsubishi Power’s commitment to supporting partners in Saudi Arabia to meet the country’s escalating power needs.
Advanced Power Solutions for Saudi Arabia
Mitsubishi Power has been actively involved in major projects across the Kingdom, delivering state-of-the-art low carbon power technology solutions, including gas turbines and steam turbines for projects like Rabigh, Qurayyah, and the Jeddah South Thermal Power Plant.
Localization Efforts and Partnership Building
The company has established service and repair centers in Dammam, emphasizing localization activities to ensure proximity to customers. Al-Juraid highlighted Mitsubishi Power’s commitment to strengthening partnerships with private sector firms and government entities in Saudi Arabia to align with Vision 2030 objectives.
Supporting Vision 2030 and Local Talent Development
Mitsubishi Power’s National Program focuses on developing local talent and expanding industrial facilities in Dammam to support Saudi Arabia’s industrial capacity building efforts. The company aims to increase Saudization rates and provide opportunities for Saudi talent to grow their careers in the engineering and technology sector.
Driving Economic Diversification and Cleaner Power Strategies
By providing training programs and leveraging existing facilities in Dammam, Mitsubishi Power aims to address the Kingdom’s energy demand, support circular carbon economy initiatives, and contribute to economic diversification goals.