Abu Dhabi, 8 May 2013: As nations across the region embrace sustainable energy, show organisers of World Future Energy Summit (WFES) in Abu Dhabi, during a recent visit to Tokyo Japan, outlined the significant business opportunities that the Middle East region and the UAE in particular offer to Japanese renewable and energy-efficient technology providers.
Presenting to the Ministry of Economy, Trade and Industry and Japanese corporations, the delegation addressed the Middle East’s rising energy needs, adoption of energy efficient-solutions and the scope of renewable energy as an increasingly popular means to power the region.
Naji El Haddad, WFES Show Director at Reed Exhibitions, said, “The energy market scenario in the Middle East is dotted with issues of increasing energy demand (GCC needs additional 100GW of installed capacity by 2020), high carbon footprints per capita and export commitments that will hamper demand being met by conventional sources of oil and gas. As governments of the region continue to invest in the development of renewables, it poses a 100bn dollar accumulated business opportunity for global suppliers of renewable energy technologies. Solar power alone will account for more than 90% of the planned 20-25GW renewable power projects to be installed in the GCC by 2020.”
Positioning UAE as the region’s most investment-conducive destinations in the region, El Haddad explained, “Driven by strong economic and demographic growth and increasingly supportive regulatory environments and government-level policy commitments to sustainability goals, the UAE and its capital, Abu Dhabi, offers a favourable business environment for foreign companies.”
“The UAE also enjoys a strategic location, close to fast-growing markets of the Middle East North Africa and Asia. This offers considerable opportunities for foreign technology providers based in the UAE to forge co-operation and long-term partnerships with other Middle East buyers who are seeking energy-efficient technologies and renewable-power products and services”, he added.
During the visit, El Haddad discussed the UAE’s pioneering role in the promotion of renewable energy in the Gulf, “Committed to maintaining its position as a major provider of energy, the UAE has effectively sought diversification of its energy mix. It has expanded its leadership into renewable sources of power including solar.”
By 2020, Abu Dhabi has committed to producing 7 percent of its energy through renewable sources, while Dubai has committed to producing approximately 5 percent of its energy through solar power set by 2030.
“As one of the world’s leading producers of oil and gas, Abu Dhabi is investing heavily in renewable and sustainable energy knowledge, technology and capacity. A prime example of the Abu Dhabi’s unrelenting commitment is the creation of Masdar City, an emerging global clean-technology cluster and special economic zone in Abu Dhabi. Marking another major milestone in the country’s efforts toward diversification is Shams 1, the world’s largest concentrated ‘100-megawatt’ solar power plant (CSP), recently launched by Masdar in Abu Dhabi”, he said.
El Haddad briefed the gathering on the upcoming World Future Energy Summit, the world’s foremost event for the sustainability sector, hosted by Masdar, Abu Dhabi’s multi-faceted renewable energy company.
He encouraged participation of the Japanese energy sector at the seventh edition of the event to be held in Abu Dhabi from 20-22 January 2014, “The Summit represents a fantastic platform bringing project owners and solution providers face- to-face with investors and buyers from both the public and private sectors. The 2013 event attracted 91 official government delegations at the opening ceremony and over 25,000 attendees from 155 countries.”
World Future Energy Summit is an important global event that brings together world leaders, policy makers, business leaders, financiers and entrepreneurs to address the key issues affecting the future of energy. The event is held under the patronage of His Highness General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The seventh World Future Energy Summit, from 20 - 22 January 2014, hosted by Masdar, Abu Dhabi’s multi-faceted renewable energy company, is the centerpiece of Abu Dhabi Sustainability Week (ADSW) and will be co-located with the second International Water Summit, also hosted by Masdar.
Notes to Editor:
About Abu Dhabi Sustainable Week:
Abu Dhabi Sustainability Week (ADSW) is a global platform that addresses the interconnected challenges that affect the widespread acceleration and adoption of sustainable development and renewable energy. To seriously address the global energy challenge, the relationships between economic development, poverty eradication, energy security, water scarcity and climate change cannot be overlooked. The largest gathering on sustainability in the history of the Middle East, ADSW encourages actionable outcomes to carve a pathway toward sustainability worldwide
For further information on WFES please contact:
Naji El Haddad
Show Director - WFES
T: (+971) 2 4090 499
T: (+971) 2 6334 133