The GCC is expected to invest close to $100 billion to increase its power generation capacity in 10 years, as studies reveal that GCC needs at least 100,000MW to support the power requirements of their rapidly growing economies.
The GCC region has emerged as among the top 10 biggest electricity consumers in the world, thereby prompting governments across the region to undertake massive efforts to boost power generation capacity and reduce production costs, said an industry expert.
“The GCC is leading the way in the development of power production facilities, which is focused on supplying the growing power requirement at a more economical cost,” said Vipin Sharma, VP of EEMEA & India sales, Tripp Lite, a manufacturer of power protection and connectivity equipment.
This includes a GCC-wide power grid project to be commissioned by 2010, which will link the six GCC states through an integrated electricity network, and a collaboration between Kuwait, Bahrain and Oman, who are expected to spend a combined $6 billion to head off anticipated power demands.
Recognising the tremendous potential in leveraging this market, Tripp Lite is aiming to offer more robust power protection and continuity equipment to support government initiatives, he noted.
Sharma said the company aims to expand its current portfolio of power protection and continuity products while intensifying product development initiatives as part of efforts to address the growing demands of regional markets.
'With government bodies focusing on ensuring adequate power supply to sustain development, we have identified the outstanding prospect in aiding their initiatives by providing highly secure power protection equipment,' he noted.
Sharma pointed out that Tripp Lite will soon roll out a specific plan, which will involve new product launches and further investments into its product development to fully maximise the potential of the GCC market.
“With regional power generation expected to record an increase of 29.7 per cent between 2007 and 2011, our aim is to continue to provide robust power protection solutions and undertaking further strides, which will assist in resolving these issues,” he added.-TradeArabia News Service