ME renewable energy to grow 30 fold by 2020
Abu Dhabi, November 23, 2013
The non-hydro renewable energy capacity is poised to grow 30 fold in Mena region by 2020, thanks to the over 100 renewable energy projects in the region, said a report ahead of a key energy summit in the UAE capital.
With investment in cleantech and renewable energy projects at an all-time high – both in the UAE and globally – the Project and Finance Village at the 2014 World Future Energy Summit (WFES) will play a crucial role in linking developers and entrepreneurs with investors.
Hosted by Masdar, Abu Dhabi’s renewable energy company, the WFES takes place from January 20-22 in Abu Dhabi.
According to recent findings in Irena’s “Status and Trends of Renewables: From the Mena Region to a Global Setting”, there has been a massive growth in the renewable energy markets in the Mena, with regional investment reaching $2.9 billion in 2012.
Over 100 projects are currently under development in the region, and Mena governments expect an additional non-hydro renewable energy capacity of 107GW by 2030.
Since 2011, the World Future Energy Summit (WFES) has made a concerted effort to link inventors with the capital they need to bring their projects to fruition.
“WFES is a global platform designed to bring together governments, policy makers and suppliers to share knowledge and reach agreements, but it’s important not to forget about the great work happening in independent R&D,” said Naji Haddad, the show director of WFES.
“Individuals and small to medium enterprises are also a crucial source of creativity, and we need to make sure their ideas are heard and supported. The Project and Finance Village is a perfect opportunity to do just that.”
Last year, the Project and Finance Village hosted 29 renewable energy projects worth $8 billion and welcomed hundreds of investors from the Middle East and beyond to network and engage in discussions.
The Project & Finance Village at WFES 2014 will facilitate multiple networking opportunities at a senior level within the feature areas.
Pre-scheduled meetings with potential project partners will be offered, and numerous presentations on the latest trends in energy investment will be conducted by industry experts in the Project and Finance Village Theatre.
Already, solar and wind energy project developers from Jordan, Morocco and Saudi Arabia have confirmed their participation in the 2014 Project and Finance Village.
Some of them, like Nareva Holdings, Millinium Energy Industries, PassivSystems Limited and Sun & Life, are making their way back for the second consecutive year. Their continued interest shows that the Project and Finance Village is the right platform to meet people and serious investors at WFES.
With a revamped design and more areas to meet, the P&FV will once again be a catalyst for renewable energy project investments and cleantech. New sessions by the International Renewable Energy Agency (Irena) will be introduced, along with new workshops about financing solar and other renewable energy projects and other key topics.
The seventh edition of the Summit is the centerpiece of Abu Dhabi Sustainability Week (ADSW), a global platform that addresses the interconnected challenges affecting the widespread acceleration and adoption of sustainable development and renewable energy.
WFES will be co-located with the second International Water Summit and the inaugural EcoWASTE exhibition, also hosted by Masdar.-TradeArabia News Service