The world Future Energy Summit 2012 turn focus on the Emirate of Abu Dhabi as it will host the fifth summit of the world’s prime annual meeting dedicated to advancing future energy, energy efficiency and clean technologies during the period 16-19 of this month.This leading annual global summit aims at driving innovation, business and investment opportunities in response to the growing need for sustainable energy; and developing renewable energy as an alternative less polluting to the environment compared with conventional energy sources.
Due to the importance of this summit, more than 26 thousand participants, including 3000 delegates, 650 exhibitors are expected to join the event, which will host 20 national pavilions.
Tempo apace toward renewable energy:
Renewable energy began to influence energy markets significantly, especially the transport sector and heating technologies. The sources of clean renewable energy contributed to bridging the world's energy needs significantly in 2010 with 5.4% rate of growth and 1320 GW capacity higher by 7.3% compared to 2009. Renewable energy sources provided 19.4% of the total world electricity generated in 2010. China, the United States and Canada are most advanced in fields of renewable and clean energy.According to the International Energy Agency, renewable energy is expected to supply 14.2% to 22% of the global energy supply in 2035, based on the current growth rates; in addition to strategies for reducing atmospheric greenhouse gas concentrations to below 450 parts-per-million carbon dioxide equivalent (ppm CO2 equivalent).
Incentives and challenges for investing in renewable energy:There are three major issues which drive countries to invest in renewable energy; the first is the need to secure requirements of energy sources, the main pillar of sustainable development. The second concern is facing environmental challenges of climate change and global warming associated with the use of traditional energy sources and greenhouse gas emissions. The third incentive is the continuous rise in oil and gas prices, against a decline in the cost of renewable energy, which are expected to continue to decline over the coming years, due to improved production technology of renewable energy.
The renewable energy sector provides various opportunities for direct investment, as well as through the need for services and goods required by the industry. It provides job opportunities, as the number of workers in this sector worldwide exceeded 3.5 million in 2010 and is expected to double in the next few years.Despite some of the challenges facing the use of renewable energy, such as seasonal availability, the need for huge investments, and the required changes in the energy structural infrastructure, however it remains a strategic choice to secure energy supplies in the future, especially with the rapid developments in production and a continued reduction in production and operational costs.Investments in renewable energy:The investment in renewable energy has made great strides during the period 2004-2010, where investment rose from $ 22 billion in 2004 to $ 211 billion in 2011, up by 859%. In spite of the recession in the global economy in the wake of the global crisis, investment in 2010, increased by 3% compared to 2009. China ranked first worldwide in terms of the volume of investments in renewable energy by $ 49 billion in 2010, and the United States come in second place with investments of $ 25 billion, while the Germany acquired the third place with investments estimated at $ 6.7 billion.
Economic diversification to achieve sustainable development in the Emirate of Abu Dhabi:
The Emirate of Abu Dhabi possesses huge reserves of oil enough to stand production at current rates for more than a century, and it occupies it is ranked sixth worldwide in terms of proven oil reserves, which constitutes about 7% of global reserves. The current production of the Emirate's oil comprises more than 8% of the total OPEC production, while the emirate is ranked seventh in the world in terms of proven natural gas reserves. The oil, gas and petroleum products exports represented 92.5% of the total exports of the emirate in 2010. However, to achieve sustainable and balanced development, the Abu Dhabi's Vision 2030 has set economic diversification as a target to avoid fluctuations in petroleum revenues. The Vision aims at the development of sound infrastructure able to support the expected economic growth, by ensuring secured energy to meet future needs; and this is one of one of pillars of the economic policy of the Emirate.
Abu Dhabi's efforts to develop the energy sector:
The emirate exerts major to develop the energy sector, as a strategic choice to ensure the sustainability of supplies during the different stages of development as outlined by the ambitious economic vision. Abu Dhabi as well seeks optimum utilization of resources and available sources of energy, on top of which come the solar and wind energy.The Emirate of Abu Dhabi implemented many projects and initiatives in this area, and adopted a strategy to develop clean energy from current traditional sources, as well as the development of patterns of non-traditional renewable energy, which turned to rely primarily on natural gas production and power generation, and desalination of sea water. The emirate seeks to reduce carbon emissions and support environmental plans to provide clean energy from traditional sources.
Abu Dhabi 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 power plants with capacity of 1400 MW each. The first nuclear power station is expected to start supplying the national electricity grid in 2017, while the completion of the four nuclear stations is scheduled by 2020.The emirate exerts concerted effort to reinforce the role of renewable energy as a more sustainable and less polluting alternative. The State has already implemented some projects for electricity production and water desalination, using renewable energy technology such as the (Umm Al Nar) station in Abu Dhabi, which is a practical model of one of the advanced technologies for solar desalination of sea water. The production of electricity from the largest wind powered generator in the Middle East also started on the island of 'Sir Bani Yas', with a capacity greater than 850 kW / h; and this generated electricity is used in supplying Yas Island facilities, in addition to the electricity supplied by the national grid.
Abu Dhabi's position in the field of global energy:
The selection of Abu Dhabi to host the International Agency for Renewable Energy IRENA is recognition by the world of the global status of Abu Dhabi, and a culmination of the efforts of the emirate in this area. The UAE has invested about $ 7 billion in 2008 in clean energy projects, and plans to invest up to $ 50 billion by the year 2015. Plans include raising the contribution of renewable energy sources to energy needs by 7% by the year 2020.To encourage innovations in the field of renewable energy, the Emirate of Abu Dhabi launched the Zayed Future Energy Prize as the world's preeminent prize for innovation and leadership, in renewable energy, offers $ 4 million annually to honor achievements in the field of innovation and development of renewable energy solutions and sustainability. This prize comes within the framework of global efforts to develop innovations and sustainable solutions to meet current needs, and future requirements of energy in the world.
Masdarand the future of renewable energy:
The efforts of the emirate in the field of renewable energy are clearly demonstrated by the establishment of the Abu Dhabi Future Energy Company Masdar in 2006. Masdar aims to make Abu Dhabi a source of renewable energy knowledge, development, implementation and sustainable development; in addition it aims at the development of technologies and solutions for renewable and clean energy to be used commercially. Masdar works in collaboration with partners and institutions from around the world to harness the latest scientific research, and most advanced technology to produce applicable effective systems and mechanisms.Among Masdar's most prominent local projects in the field of renewable energy is the PV station, which started two years ago the manufacturing of large-surface thin-film solar modules, at the capacity of 10 MW. Since its establishment, the station was able to reduce carbon dioxide emissions by 24 thousand tons, equivalent to removing 3300 cars from the streets of Abu Dhabi.
The PV station has been linked to the national grid of electricity in Abu Dhabi, and has been able so far to generate approximately 36,000 MW / h of clean energy to ensure securing the needs of the buildings in the City of Masdar, I and the construction activities taking place in the City, and transmitting the surplus to the national grid.Another pilot project for solar power in Abu Dhabi encompasses the installation of photovoltaic panels with total capacity of 2.3 MW on the roofs of buildings in Abu Dhabi, to generate more than 4 GWh per year; this will spare emission of of 3.2 tons of carbon dioxide annually.The completion of financing arrangements for the Shams 1 solar power project was announced in March 2011. The project will be set in the Western Region of the Emirate of Abu Dhabi, as one of the largest power plants in the world, relying on solar energy, and the first of its kind in the Middle East. With total cost of $ 600 million, the project is expected to come into operation this year, and contribute in reducing emissions of carbon dioxide by 175 thousand tons annually, equivalent to getting rid of 20 thousand cars.At the international level the station Khimasolar concentrated solar power project in Spain, which was opened in October 2011, is the first solar power station in the world capable of 24 hours non-stop supply to the electricity grid. The project will help reduce carbon dioxide emissions by thirty thousand tons per year.London Array at 1,000MW, will be the world's largest offshore consented wind farm, located near the coast of Kent and Essex counties east of London. The first phase of this project will be completed this year, and is expected to generating electricity to power 750,000 homes.Masdar is composed of a number of units each is specialized in one of the activities associated with renewable and clean energy. Masdar Power is a developer and operator of renewable power, which is expected to provide 7% of electricity needs in the Emirate of Abu Dhabi by year 2020. Masdar City, is an international center for research and development in areas of renewable energy and sustainable technologies; and the city will be fully operated using only renewable energy. Investments allocated for Masdar City amount to $ 22 billion.The Masdar Institute of Science and Technology, is the first academic institution in the world, for university graduates, interested in alternative energy technologies and sustainable energy research. The institute was developed in collaboration with MIT - Massachusetts Institute of Technology, and the first batch of its students graduated in 2011, including 73 Males and females students received who graduated with master's degrees in various disciplines of science and engineering.Masdar for Joint Projects, was established to encourage joint ventures and which manages clean energy funds. Masdar established two investment funds; the first is the diversified venture capital investment Fund for $ 250 million, and the second is the DB Masdar Clean Tech Fund, worth $ 290 million.
To develop projects to reduce emissions of greenhouse gas, Masdar established the carbon management unit.Abu Dhabi stance and leadership in fields of renewable energy, is the outcome of the efforts and initiatives undertaken by the Emirate.