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Abu Dhabi Fast Heading Towards Renewable Energy Hub Dream

ABU DHABI - Abu Dhabi seems to be fast nearing its dream of becoming the global hub of alternative energy, if the enthusiasm that was visible at the opening day of World Future Energy Summit (WFES) here on Monday was any indication.

The top officials of Masdar, the multi-faceted future energy initiative of Abu Dhabi, in their opening remarks at the summit made it clear that there will be no rolling back of programmes in the wake of the global financial downturn.

Reiterating Abu Dhabi’s commitment to generate 7.5 per cent of their total power requirement through renewable energy sources by 2020, they said they hoped to create a renewable energy market of $6.8 billion by then.

“Our commitment to renewable energy is on a long-term basis and is not going to be influenced by the short term developments like the financial crisis or fluctuations in oil prices,’’ Masdar chief executive Dr Sultan Al Jaber said both at the opening session of the Summit and later addressing a Press conference. “Masdar is well-positioned to capitalise on the “undeniable momentum and long-term viability of renewable energy technology,’’ he said.

According to him, there is growing international evidence of the widespread adoption of renewable energy. This includes recent commitments by the governments of Australia and the United States to make significant investments in renewable energy technologies and a commitment by the European Parliament to reduce carbon emissions by 20 per cent by 2020.

International efforts led by the Governments of Germany, Denmark and Spain to establish an International Renewable Energy Agency, dedicated to the widespread adoption of renewable energy on a global scale, is another example of this .

He said Masdar and Abu Dhabi would support the initiative to launch a global-level agency for promoting renewable energy along the lines of the International Energy Agency (IEA).

“Looking at the recent local and international commitments, it is our view that the world has reached a tipping point in the acceptance of renewable energy,” he said. “We have a long, challenging journey ahead of us, but we are heading in the right direction and the progress we are making is irreversible.”

President of the Republic of Seychelles James Alix Michel said his country had signed an agreement with Masdar for developing wind and solar energy in Seychelles. When implemented the deal would lead to generation of nearly 30 per cent of the power required by Seychelles through alternative energy technologies.

Dr Sultan Al Jaber said Abu Dhabi will soon announce a comprehensive energy policy to be pursued by the emirate as part of its Vision 2030 document.

Replying to questions he said solar energy would contribute the lion’s share to the seven per cent power to be generated from alternative energy sources. Alternative energy assessments do not include nuclear energy. Studies have also revealed that the possibility of wind energy is limited in the UAE.

“The unflinching commitment to alternative energy is a testament to the will of our leadership, His Highness Shaikh Khalifa bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, and Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Under their guidance Masdar will provide a comprehensive solution to the world’s energy challenges and maintain Abu Dhabi’s position as a leading supplier of energy to the world,” he added.

More than 15,000 delegates, 300 exhibitors and 20 government delegations are attending the three-day summit which will discuss the global response to future energy challenges. Shaikh Mohammed bin Zayed Al Nahyan inaugurated the summit. Prince Willem-Alexander of The Netherlands, Prince of Orange, was among those who spoke at the inaugural session.

· ramavarman@khaleejtimes.ae