Middle East will need $12 bln a year in new power projects until 2020

The Middle East is expected to require AED 44 bln (USD 11.96 bln) in new power projects per year until 2020, according to recently published reports, in order to address the average 6% growth in regional demand for electricity within the next 11 years. With aims to support the power needs of the most important industries in the region, Tripp Lite, a world leading manufacturer of power protection and connectivity equipment, has announced the launch of the ‘PowerVerter APS X Series Inverter/Charger’, which offers a cost-effective solution for commercial, industrial, healthcare, remote site operations.
“In an economic climate that has made every means of cost reduction and efficient operations a vital step for success, our new product can help companies ensure that they are using power efficiently, thereby saving them valuable time and money,” said Vipin Sharma, Vice President, EEMEA and India Sales, Tripp Lite.
“With market studies projecting that upstream investments may total USD 225 bln over the next 10 years and financing for specific industrial cities will strongly follow through, we are anticipating a surge in the demand for high quality power protection products, which we are aiming to maximise.”