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Tripp Lite leverages UAE's soaring demand for power
DUBAI - Tripp Lite is planning to launch new products on power protection and connectivity as part of increased investments in the UAE, which needs to spend Dh10 billion to meet its soaring demand for electricity over the next few years.
The UAE will account for 5.8 per cent of regional power generation by 2011, said the company in a statement yesterday, quoting data from Business Monitor International, an online provider of information on emerging markets.
It noted that the UAE government has announced plans to expand its 10-gigawatt production capacity by at least 50 per cent by 2017. The country has been moving towards having an adequate supply of electricity for its rapidly growing economy, especially in Dubai, whose annual power demand rose by 14 per cent.
Vipin Sharma, the company's vice-president of sales for Eastern Europe, Middle East, Africa and India, said Tripp Lite would increase its presence here to help address the requirements of the UAE market, which uses around 11,000 kilowatt-hour of electricity for each person every year.
This can be done through new highly secure power protection equipment providing continuous power supply as well as power conservation.
'In line with this, we will be rolling out a specific plan, which will involve new product launches and further investments into our product development to fully maximise the potential of this market,' Sharma said.
The Dubai Electricity and Water Authority (DEWA) earlier said that power consumption in the emirate rose almost 30 per cent in 2006. Regional power-generation output is expected to rise 29.7 per cent to 1,473 terawatt hours between 2007 and 2011.
'Despite the various challenges in power production being faced across the region...we see significant movements to counter the offsetting effects of a potential power shortage to the region's economy and stability,' the statement said.
Sharma said Tripp Lite, a global company with operations in Dubai's Jebel Ali free trade zone, also plans to grow and expand in emerging markets like India.
The company will also set up operations in the Philippines, to take care of the Asia-Pacific market.
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