MENA catalyses $ 1 trillion in global GDP growth from renewable energy

The Middle East and North Africa (MENA) will catalyse the USD 1 trillion in potential GDP growth from renewable energy over the next 15 years, industry experts announced today in the launch of the 10th World Future Energy Summit (WFES), hosted by Masdar.

If the world more than doubles its renewable energy share from 23 per cent in 2016 to over 50 per cent by 2030, then there would be a USD 1.3 trillion increase in global GDP and 24 million jobs created, according to the International Renewable Energy Authority (IRENA).

MENA countries are global innovators in driving renewable energy and clean technology, led by Dubai planning to build the world’s largest concentrated solar power plant, and the Kingdom of Saudi Arabia’s Saudi Vision 2030 targeting 9.5 GW in renewable energy. Egypt, Jordan, Kuwait, Morocco, and the UAE are all making strong progress.

Driving the region’s business opportunities, WFES 2017 will bring together the world’s leading renewable energy exhibitors, government delegations, innovators, and thought leaders from 16-19 January 2017 at the Abu Dhabi National Exhibition Centre. Emirates Global Aluminum will serve as Associate Sponsor, and ExxonMobil as Diamond Sponsor.

WFES 2016 hosted more than 30,000 attendees from 150 countries, 600 exhibiting companies from 32 countries, including 16 country pavilions. The WFES Conferences program hosted 1,200 delegates and 125 speakers, including at the Future Cities Forum, on Smart City innovations, and the Egypt Energy Forum, highlighting Egypt’s business opportunities.

As global energy efficiency investments are set to total nearly USD 6 billion by 2030, according to IRENA, the Energy Efficiency Expo will debut showcasing solutions in energy efficiency and smart building solutions for the residential, commercial, and industrial sectors. The Expo will be hosted by Masdar, in partnership with the Clean Energy Business Council, Emirates Green Building Council, and the Urban Planning Council of Abu Dhabi.

With the Middle East Solar Industry Association showing MENA will tender 4 GW of solar in 2016, Solar Expo will showcase the latest in solar photovoltaic applications and components, solar thermal technologies, and energy storage, and host networking at the Solar Village.

The Sustainable Transport Zone will feature the latest in environmentally-friendly transportation, supporting MENA in its aim of spending USD 4.3 trillion in transportation and logistics infrastructure by 2020, according to Al Masah Capital.

Tailoring to the networking needs of business leaders, the Sustainability Business Connect will pre-arrange thousands of meetings bringing together buyers and sellers. WFES 2016 hosted a record 1,735 executive buyers from 1,322 companies and 75 countries. Attendees can also exchange specialised knowledge at the WFES TechTalks.

Part of Abu Dhabi Sustainability Week 2017, WFES will be co-located with the International Water Summit and EcoWaste exhibitions.

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