In 2003, Omans installed power generating capacity was estimated at 2.9 gigawatts (GW). With the exception of some very remote villages, the entire country is electrified. Like other Gulf states, Oman faces growing demand for electricity due to population growth, industrialization, and rising incomes. Consumption is now increasing by 4-5 percent a year, and the government forecasts that electricity demand will be 70 percent higher in 2015 than it is today. To meet this challenge, Oman has allowed the private sector to take on a growing role. The Ministry of Electricity and Water (MEW) continues to play a role as a regulator. The MEW also remains responsible for distribution. In July 2003, the MEW announced that it was setting up a new company, the Transmission and Distribution Company (TRANSCO), that would oversee the generation and supply of electricity in the country. It also announced that it would be selling 65 percent of the new firm to private investors. There have been several notable privatizations. The 1996 sale of a 90-MW power station in Al-Manah to Trachtebel (Belgium) produced the regions first independent power project (IPP). In 2001, a deal to sell a 200-MW plant in Salalah to Dhofar Power Consortium (DPC) went through. It was the first deal in the region to cover generation, transmission, distribution, billing and collection. As part of the contract, DPC is to improve the generation and distribution facilities. Oman has also agreed to the establishment of a number of new IPPs. In 2000, it agreed to plans to build the 280-MW al-Kamil power plant at al-Sharqiya. Both the Barka and al-Kamil plants are fuelled by on Natural Gas, and began operation in 2003. In addition, the U.S. firm Public Services Enterprise Group (PSEG) completed work on a 200-MW integrated power facility in May 2004, which supplies the Dhofar region. A 140-MW plant in Qarn Alam was completed in mid-2004, owned by Bharat Heavy Electrical (BHEL) of India.