Business | General
Channel Sponsor
$10b needed to meet UAE's growing power demand
The UAE needs to spend more than $10 billion to meet soaring power demand, a company said on Sunday.
- Staff Report
- Published: 11:20 August 3, 2008
Dubai: The UAE needs to spend more than $10 billion to meet soaring power demand, a company said on Sunday.
Quoting the Business Monitor International, Tripp Lite, a manufacturer of power protection and connectivity equipment, said in a press statement that the country will account for 5.77 per cent of regional power generation by 2011.
“The swelling demand for power in the UAE is being fuelled by the rapid increase in population and unprecedented growth in the nation's economy, all of which requires tremendous amounts of electricity,'' said Vipin Sharma, Tripp Lite vice president for EEMEA and India sales.
Tripp Lite has announced plans to expand its current portfolio of power protection and continuity products, to leverage the booming power market.
For its part, the UAE Government has announced plans to expand its 10-gigawatt production capacity by more than 50 per cent by 2017.
The government is also undertaking necessary actions to provide adequate power supply, especially in rapidly growing emirates such as Dubai, which has recorded a 14 per cent increase per year.
Power consumption in Dubai rose by nearly 30 per cent in 2006 alone, according to the Dubai Electricity and Water Authority.
The UAE market uses around 11,000 kilowatt-hours per person per year.
Do you think the authorities need to invest more in the energy sector? Would you invest in a property if the power supply was not guaranteed? Why? Tell us at letter2editor@gulfnews.cm or fill in the form bellow to send your comments.
Your comments
What is the total power production of the country.
Ali
Abu Dhabi,UAE
Posted: August 04, 2008, 09:43
Share this article
More from Business General
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Cafe Nero's premium coffee blends
UK chain plans to open 50 outlets in region following UAE launch
-
Emirates to fly direct to Tokyo
Airline considers code-share deal with JAL after adding second destination in Japan
-
Work on world's longest sea crossing
The proposed Qatar-Bahrain causeway project is estimated to cost Dh9.9 billion
