Abu Dhabi is a leading renewable market, according to WFES experts
Abu Dhabi, United Arab Emirates, 19th November 2008:If someone had said five years ago that the largest conference and exhibition in renewable energy was in Abu Dhabi, you probably would have laughed. However, the World Future Energy Summit has broken all kinds of records and won numerous international awards. With the powerhouse of renewable energy, Germany, hitting recession and general downturn in investments in renewable energy, what attracts 300 companies to exhibit in Abu Dhabi?
“In terms of policy and leadership, the response from the Middle East is quite revolutionary”, said Prashant Kapoor, Director of Sustainability, WSP, when asked about the demand for green building solutions.“In the west, people are ahead of the developers in demanding sustainability. In the Middle East, it’s the leaders and the corporations that are driving this”.
So sustainability is more than a buzz word. However, companies cannot survive on principles and need business. According to Hans Sulewski, technology manager for ABB’s process automation for the Middle East and Africa (MEA) region "In the MEA region there are constantly new projects announced for developments in various industries. These developments require a tremendous amount of power.”
The United Arab Emirates ratified the Kyoto Protocol in 2005 but does not have to reduce its carbon emissions as classified as a developing country. However, with initiatives such as MASDAR and The World Future Energy Summit, Abu Dhabi is positioning itself to be a major clean energy provider wherever the future of energy lies.
According to the Lionel Fretz, C.E.O of Carbon Capital Markets,”We have seen the development of a clear and strategic focus on renewable power generation and low carbon technologies in Abu Dhabi. They have announced plans to spearhead a $7 billion CDM market in the region.” Clean development mechanism (CDM) is a system for carbon offsetting set up under the Kyoto Protocol, governments can invest in greenhouse gas reduction projects and use it as credit against their own pollution.
One of America’s largest engineering firms, CH2M Hill, has seen a seen a shift in the Abu Dhabi market from traditional energy resources to renewable. “Thanks to the leadership in UAE, the business opportunities have increased significantly around the renewable energy which attracts companies like CH2M HILL to Abu Dhabi.”
But you cannot forget about the basic competitive advantage of the Middle East: no taxes, labour flexibility, strategic location within a region of two billion people and the transportation hub that it has created. “The gulf provides the right environment to developers and equipment suppliers to establish launching pads covering a vast market for renewable” said Patrick Blanchard, global head of project and sectorial finance, Dexia.
Prashant Kapoor, Lionel Fretz and Patrick Blanchard will all be speaking at the World Future Energy Summit in Abu Dhabi National Exhibition Centre in Jan 19-21st. John Mogge, Senior VP of CH2M Hill will be speaking also. ABB are participating in the WFES exhibition.
To register, see the full programme and exhibiting companies, you can go online to www.worldfutureenergysummit.com . The market is here, join the business leaders and be part of it.
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ABOUT THE WORLD FUTURE ENERGY SUMMIT
The World Future Energy Summit held its inaugural event on 21-23 January 2008 in Abu Dhabi under the patronage of H.H. General Sheikh Mohammad bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The first summit in January brought together 11,272 attendees from 77 countries, 213 exhibitors from 23 countries, over 80 speakers and 423 international and regional media.
Hosted by Masdar, WFES 09 will be hosted in the Abu Dhabi National Exhibition Centre, the capital of the United Arab Emirates. It is proudly supported by its principal sponsor, Credit Suisse and principal international media partner, TIME magazine.
Turret Middle East is a leading organiser of conferences and exhibitions and a foundation partner of the Abu Dhabi National Exhibitions Centre. It organises the World Future Energy Summit on behalf of REED Exhibitions.
The company organises some of the region’s biggest events including the internationally acclaimed World Future Energy Summit, winner of the AEO Best Launch Event this year, The Middle East Waste Summit, Dubai, and consumer shows such as the award winning Taste of Dubai food extravaganza, and a new event for 2009 – The International Motorsports Festival, Abu Dhabi.
With a new publishing department expanding rapidly into new markets, the Turret ME team is going from strength to strength. For more information go to www.turretme.com
ABOUT MASDAR
The Masdar Initiative is Abu Dhabi’s multi-faceted, multi-billion dollar investment in the development and commercialization of innovative technologies in renewable, alternative and sustainable energies as well as sustainable design.
Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi announced it will invest $15 billion in Masdar, the largest single government investment of its kind.
For more information about the Masdar Initiative, please visit www.masdaruae.com
