Monday 16 May 2022

The Climate Innovations Exchange at the World Future
Energy Summit 2018

Major deals announced on second day of WFES

ABU DHABI, January 17, 2018

The second day of the ongoing World Future Energy Summit, International Water Summit and EcoWASTE Exhibition in Abu Dhabi, UAE saw a number of new business agreements signed by participating companies.

Abu Dhabi Water and Electricity Authority, Tadweer and Abdul Latif Jameel all unveiled significant new plans.

At the opening of the World Future Energy Summit conference programme, the UAE Minister of Energy, Suhail Al Mazroui addressed global energy stakeholders in attendance, referring to the UAE’s Energy Strategy as a key contributor towards the continued reduction of solar energy prices, which have already broken the 2-cent threshold.

Al Mazroui stressed that renewable energy will also need to be supported by other forms of energy in the UAE, such as fossil-based energy and nuclear energy. He indicated that he was confident that this year’s edition of the World Future Energy Summit will bring forward more innovative ideas and solutions that will continue to shape the energy future of the UAE and the wider region.

Tadweer (The Centre of Waste Management – Abu Dhabi) announced the signing of five new contracts worth Dh165 million ($45 million) for waste management projects in Abu Dhabi, with leading firms in the waste sector. Tadweer revealed the details of the projects at a press conference organised at the EcoWASTE Exhibition.

Green Energy Solutions & Sustainability signed an agreement for the first landfill gas to energy investment project in the Middle East at Al Dhafra Landfill, which is the largest landfill in Abu Dhabi. The project will prevent emission of Green-House Gases (GHG) from the landfill to the atmosphere. It is expected to be commissioned to produce about 5 MW of power by September and will be registered with the Clean Development Mechanism (CDM) of United Nations Framework Convention on Climate Change (UNFCCC) for carbon credit.

Abu Dhabi Water and Electricity Authority (Adwea ) announced the commencement of a competitive process to select a developer to own up to 40 per cent of a special purpose vehicle to participate in the Taweelah Reverse Osmosis Independent Water Project. The remaining equity will be held, directly or indirectly, by Adwea.

The project will comprise, inter alia, the development, financing, construction, operation, maintenance and ownership of a greenfield reverse osmosis seawater desalination plant with a capacity of 200 million Imperial Gallons of water per day, together with associated infrastructure. The Plant will be located at the Taweelah power and water complex, approximately 45 km north of the city of Abu Dhabi.

The project is important to ensure the security of potable water supply in Abu Dhabi as well as playing a key role in the ongoing cost reduction initiative in the sector through the procurement of competitive and efficient reverse osmosis water desalination technology.

Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, announced it has secured a deal to start construction of a 342 MW dc solar farm in Mexico. The deal for the Potosí Solar Farm will see construction begin in early 2018 and adds to a growing list of renewable energy projects Abdul Latif Jameel Energy has delivered across Latin America, including Uruguay and Chile.

Potosí Solar Farm will generate enough energy to power around 150,000 homes and reduce greenhouse gas emissions by approximately 600,000 tons of CO2 per year.

Acwa Power has announced that it will adopt SolarCoin, the global reward program for solar electricity generation, marking the first time a utility-scale generator joins the SolarCoin ecosystem. SolarCoin adoption will provide digital tokens to ACWA Power for every MWh of solar energy produced and will provide a supplementary means of payment for goods and services than conventional currency.

The Climate Innovation Exchange (CLIX) launched at the World Future Energy Summit with a keynote address by Shamma bint Suhail Faris Al Mazrui, UAE Minister of State for Youth.

Al Mazrui stated that youth and sustainability are inseparable in the 21st century. Sustainability is first a mindset, before it becomes a set of behaviours and then a way of doing business, Al Mazrui added. She also noted that, if we want to build sustainable systems for a sustainable world, we must invest now in the people who will carry it forward.

A total of 27 semi-finalists are pitching their ideas and products to more than 20 prospective investors throughout the World Future Energy Summit, with a view to unlocking capital to fund their innovations.

Meanwhile, Saudi Arabia outlined how it will achieve its renewable energy targets.

Turki Al Shehri, head of Renewable Energy Projects Development Office, Ministry of Energy, Industry, and Mineral Resources, Saudi Arabia revealed that tenders for four gigawatts (GW) of renewable energy will be issued by the Kingdom in 2018, including 3.2 GW of solar photovoltaic and 800 megawatts (MW) of wind energy.

Al Shehri noted that the projects will continue to drive low-cost renewable energy, with the most recent bids received by the Kingdom including submissions between 0.0178 and 0.0336 cents per kilowatt hour. He also noted that Saudi Arabia aims to reach export potential by 2019, and that the projects come as part of the country’s plans to produce 9.5 GW of renewable energy by 2023. – TradeArabia News Service

Tags: adwea | WFES | World Future Energy Summit | Tadweer |

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