Worldwide electricity consumption is increasing 2.4% annually, with Asia increasing by 3.7%. However, there are still 1.6 billion people in the world without electricity, and this could reach 2 billion by 2020. For decades, there has been heated discussion about the cheapest, most efficient and safest way of producing electricity. In the wake of blackouts, there is also growing concern about transmission and distribution. Infrastructure reliability and grid interconnectability are now seen as the keys to a sustainable supply of electrical power.
Developing nations are rapidly "electrifying", while developed ones are integrating their networks, often continentally. The fuel of choice has been shifting from coal and oil to cleaner burning natural gas. Massive windfarms are underway, hydro electricity is expanding, and nuclear sites are being upgraded. All players want to secure sources of supply, improve reliability and efficiency, and assure environmental protection.
Total installed capacity forecast for global offshore wind energy in 2050 (19.2 GW in 2017)
of investments in offshore wind by 2030 (vs 25 billion dollars in 2018)
of the 465 GW increase in global capacity for the offshore wind energy sector between 2017 and 2027 to be driven by china
MERA region's demand for power is witnessing fast growth due to increased activities in the industrial and construction sectors. As of 29th September 2018, the total value of MERA power projects is estimated to be worth US$ 6.2 Bn.
Between 2018 and 2022, Arab Petroleum Investment Corporation (APICORP) estimates that MENA power capacity is expected to expand by an average of 6.4% per year, corresponding to additional capacity of 117 gigawatts (GW) to meet increases in demand. This is likely to require US$ 152 Bn of investment in generation capacity and an additional US$ 108 Bn for transmission and distribution (T&D). The MERA governments are expanding their investment plans and APICORP estimates reveal that 91 GW of capacity additions are presently in the execution stage. Overall, the MENA region needs to invest US$ 260 Bn in the power sector from 2018 to 2022 (APICORP estimates) .
QICC-Nexans ambitious strategy in Electrification has been aligned towards regions expansion plan in the sector.
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