ollars over 2003-30, equal to about USD 350 billion per year. Developing countries will account for more than half of world electricity investment (Figure 3.10). China will need the largest increase, exceeding USD 2 trillion. New investment will also be substantial in North America and Europe. Attracting all this investment in a timely manner may not be easy. INFRASTRUCTURE TO 2030: TELECOM, LAND TRANSPORT, WATER AND ELECTRICITY - ISBN 92-64-02398-4 © OECD 2006 3. OUTLOOK FOR GLOBAL INVESTMENT IN ELECTRICITY INFRASTRUCTURE Figure 3.10. Cumulative world electricity investment in the Reference Scenario, 2003-30 Power generation Transmission Distribution Middle East Africa Transition economies Latin America OECD Pacific East Asia South Asia OECD Europe OECD North America China 1 000 2 000 Billion dollars (2000) More than half of global electricity investment will go to transmission and distribution, with distribution taking the lion's share of overall network investment. The share of transmission and distribution will generally be highest in non-OECD countries, where there is the greatest need to extend and expand existing networks. In those countries, investment in distribution alone will be almost as large as in generating capacity; in the OECD area, network investment will be little more than half that of power generation investment needs. Network investment needs are projected to grow steadily through to 2030 (Table 3.6). They grow most rapidly in OECD countries, as demand progressively approaches installed capacity and major new investments are needed. Nonetheless, in the decade 2021-30, network investments in non-OECD countries will be much larger than in the OECD area. Spending in the Big 5 non-OECD countries (Brazil, China, India, Indonesia and Russia) alone will be almost as large as that in the whole of the OECD area. The bulk of electricity investment will be needed to build new infrastructure. Around 10% of global investment in power generation will go to refurbishment of existing plants. This includes m