KUWAIT, Oct 9 (KUNA) -- A report by Kuwait Financial Center (Markaz) said Sunday that the GCC states would spend around USD 54 billion to increase the capacity of its power projects by 32,000 megawatts.

The report indicated that the GCC states took some giant steps to develop its electrical power projects, noting that the increase in the Gulf States' population and consumption had played an integral part in such increase.

In regards to the GCC power-grid project, the report said that the first two phases of the project were successful, adding that the last phase which involve linking Oman to the network.

The GCC states, said the report, considered alternative energy sources such as solar power, natural gas, and nuclear energy to replace oil, adding that the GCC states welcomed the private sector initiative to invest in power projects in cooperation with the public sector.