The healthy future of the renewable energy sector is a strong focus on the opening day of ADIREC during WFES 2013
- United Arab Emirates: Thursday, January 17 - 2013 at 11:05
- PRESS RELEASE
The future of renewable energy was a key focus of the opening session of the International Renewable Energy Conference in Abu Dhabi (ADIREC) on Wednesday 16 January, hosted by the World Future Energy Summit.
He said emerging economies underpin a 70 per cent increase in global demand for electricity, and China and the Middle East will account for almost 40 per cent of incremental gas-fired generation.
Dr Birol's address was followed by the launch of the Renewables Global Futures Report (GFR) 2013 by REN21, the Renewable Energy Policy Network for the 21st Century.
The report author, Eric Martinot from the Institute for Sustainable Policies (ISEP), said that the future of renewable energy is fundamentally a choice, not a foregone conclusion given technology and economic trends, and that policies to promote the adoption of renewable energy for transport, industrial, building and urban are choices that have to be made.
The Renewables GFR 2013 highlights that national renewable energy markets are projected to grow strongly in the coming decade and beyond. Already at a national level, at least 30 countries in the world have shares of renewable energy above 20 per cent, and 120 countries have some form of long-term renewable energy target.
During his address, Mr Martinot said the projected levels of renewable energy investment are extremely high, expected to be half a trillion dollars by 2020 with pension funds and annuity funds emerging as potential sources of investment.
Mr Martinot also emphasized that there must be a balance between renewable energy and fossil fuels.
"They are not competing with each other," he said. "There must be an integrated system and they need to see how they can work with each other."
In other sessions during the ADIREC programme today (Wednesday 16 January), leading CEO Roy Adair from Hydro Tasmania in Australia, Bader Al-Lamki, Director Clean Energy at Masdar, Santiago Seage, CEO of Spain's Abengoa Solar, and Tulsi Tanti, Chairman and Managing Director of Suzlon in India all offered their thoughts on the way forward for renewable energy companies, unveiling some interesting insights into the future.
Energy efficiency as the second pillar of sustainable energy; the integration of renewables and the role of power grids and information &communications technologies (ICT); rural renewable energy; and the MENA region as a rising star in renewable energy investment all added to positive tone of the opening day of the conference which strongly pointed to the healthy future of the sector.
The sixth World Future Energy Summit, which finishes on Thursday 17 January, hosted by Masdar, Abu Dhabi's renewable energy company, is the centerpiece of Abu Dhabi Sustainability Week and will be co-located with the inaugural International Water Summit, also hosted by Masdar.
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