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Abu Dhabi Department of Economic Development and ZonesCorp integrate efforts in the 5th annual World Future Energy Summit 2012

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Abu Dhabi Department of Economic Development and ZonesCorp integrate efforts in the 5th annual World Future Energy Summit 2012

Tuesday, January 17, 2012
The Department of Economic Development in Abu Dhabi and the Higher Corporation for Specialized Economic Zones (ZonesCorp), jointly participated in one wing with to consolidate efforts at the World Future Energy Summit 2012, launched yesterday at Abu Dhabi National Exhibition Centre, under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.His Excellency Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development in Abu Dhabi said on the occasion of the fifth annual World Future Energy Summit, that the renewable energy sector provides new investment opportunities, either directly or indirectly, through the supply of goods and services required by the industry, in addition to more employment opportunities; as 3.5 million persons worked in this sector worldwide in 2010, and the number is expected to double in the next few years.Mohammed Omar said that despite the challenges facing the use of renewable energy in terms of huge investments required, in addition to the need for structural changes in the energy infrastructure in the world; however, renewable energy will remain as the strategic choice to secure energy supplies in the future, especially in view of the accelerating technological developments, and the continuous reduction in production and capital costs. HE the undersecretary pointed out that to achieve sustainable and balanced development; Abu Dhabi opted for economic diversification, as set by the 2030 vision, in order to avoid fluctuations of oil returns. The emirate worked on the development of modern infrastructure to support anticipated economic growth, and ensure secured sources of energy to meet future needs. This choice is one of the cornerstones of the policy agenda of the Emirate of Abu Dhabi. Mohammed Omar added that Abu Dhabi has implemented many projects and initiatives in this area, and adopted sound strategies to develop clean energy from current traditional sources, as well as the development of non-traditional sources of renewable energy. The emirate relies primarily on natural gas for power generation and water desalination, as part of the efforts to reduce carbon emissions and support environmental plans to provide clean energy from traditional sources. To encourage innovations in fields of renewable energy, Mohammed Omar commented the $ 4 million Zayed Future Energy Prize, as a renowned international award in this area, which annually honors achievements in the fields of innovation and development of renewable energy and sustainable solutions, within the global efforts to develop innovative and sustainable solutions to meet the current needs and future requirements of energy in the world. The Undersecretary of the Department of Economic Development noted that the renewable energy sector in the Emirate of Abu Dhabi is on its way to implement many projects and initiatives, to develop clean energy from traditional sources, pointing out that Abu Dhabi has become almost 100 % reliable on natural gas for production and generation of electricity. Mohammed Omar emphasized that the Emirate of Abu Dhabi has started to develop a nuclear program for peaceful purposes under the supervision of the International Atomic Energy Agency IAEA, through the construction of four nuclear reactors of a capacity of 1400 MW each, as part of the UAE's plan to develop alternative energy sources. The first nuclear power station is expected to supply the national grid electricity by 2017, while the completion of the four plants is scheduled for 2020. HE Mohammed Omar Abdullah said that the joint cooperation between the Department of Economic Development and the Higher Corporation for Specialized Economic Zones (ZonesCorp), in the summit, stems from the responsibilities of the Department and its role in boosting efforts to achieve the goals of the Economic Vision 2030. For his part, HE Mohammed Hassan Al Qamzi, the CEO of the Higher Corporation for Specialized Economic Zones, said that the summit is an opportunity for strengthening bonds of cooperation and communication with owners of global projects, technology and solutions providers and investors in energy sectors. This also enables availing of the best international standards and practices in the field of energy conservation and natural resources. Al Qamzi added that the summit provides opportunities for visitors and participants to exchange experiences and review appropriate and realistic solutions to meet the challenges in terms of energy and climate change; and address the urgent need for solutions to secure sustainable energy which requires international cooperation.  Al Qamzi stressed the keenness of the Higher Corporation for Specialized Economic Zones to participate in the summit and to contribute effectively to the reduction of carbon emissions in the state; and to the conservation of the environment through the development of modern and sophisticated industrial areas, with the highest standards of environmental safety. ZonesCorp CEO, Mohammed Al Qamzi pointed out that the Corporation for Specialized Economic Zones; aims at attracting international investment projects, which will contribute to the achievement of high levels of economic growth and thereby support the economy of the Emirate of Abu Dhabi.The joint participation of the Department of Economic Development and ZonesCorp at the summit, stresses their keenness be present in this important global event which will be attended by delegations from more than 120 countries around the world. The joint wing in the exhibition of the summit, would provide a venue for serving visitors and delegates, and highlighting the responsibilities and roles of the Department of Economic Development and ZonesCorp, in relation to plans and strategies of the Government of the Emirate of Abu Dhabi to develop the alternative energy sector in the Emirate
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