Welcome!

News Feed Item

WFES 2013: World Renewable Energy Agency says GCC Countries can Achieve up to $200 billion in Returns by 2030

- IRENA declares that future energy projects provide growth opportunities for many countries
- World Future Energy Summit in Abu Dhabi from 15 - 17 January 2013 to encourage further investment at the Project & Finance Village

Abu Dhabi, Dec 22, 2012 - (ACN Newswire) - The International Renewable Energy Agency (IRENA) is adding momentum to the recent increase in investment in renewable energy with the roll out of the first allotment of its US$350 million funding cycle in conjunction with the Abu Dhabi Fund for Development (ADFD).

The two Abu Dhabi-based institutions are working together to incentivize innovative renewable energy projects in developing countries. IRENA is accepting applications from such projects until 12 January 2013 for US$ 50 million in ADFD concessional loans in the first of its seven funding cycles.

"This financing from ADFD, administered with the support of IRENA, will help projects that are innovative and replicable to get off the ground," says IRENA's Deputy Director-General, Frank Wouters. "By making such projects bankable, we believe we can create substantial growth opportunities for renewables in energy-poor countries."

The unprecedented rise in recent investment is injecting a much needed impetus to the clean energy sector, and the Project & Finance Village at the sixth World Future Energy Summit (WFES) in Abu Dhabi will provide an avenue for investors to evaluate new projects. An almost twofold increase is expected in the number of international cleantech and renewable energy projects on display at the village from 15-17 January, 2013.

Global investment in clean energy in the third quarter of 2012 has totaled US$56.6 billion according to Bloomberg New Energy Finance, with many new projects being located in emerging markets.

It has been widely reported that Qatar is currently working on a solar energy project which will account for 16% of the country's total electrical output by 2018, while Saudi Arabia is seeking investors for a US$109 billion solar energy program which will provide a third of electricity needs by 2032 to add to their planned nuclear, wind and geothermal output.

IRENA estimates that GCC countries can achieve up to US$ 200 billion in returns as early as 2030 through renewable energy integration. Countries in the Gulf region continue to establish many ambitious clean energy projects which are supported by innovative research and development as well as investment. IRENA reports that there are presently 30 such projects which are in planning stage, under construction or have been completed in the region.

The trend marks a shift in the demand for new resources of energy to developing countries, which was echoed through the projects that were showcased from the Middle East, India and North Africa at the 2012 WFES.

According to WFES 2013 Show Director Naji El Haddad, the time for developing and implementing new and sustainable forms of energy is now, and WFES 2013 is an essential global platform for project developers, entrepreneurs, banks and financiers to connect and create viable energy solutions for the future.

"Demand for renewable energy sources from developing countries is on the rise and many countries lack the funds to develop these resources. Development on a global scale is not possible without powering communities lacking access to a traditional energy supply and many countries from the Middle East, Asia and Africa are highly interested in the outcomes of the summit."

The third session of the IRENA Assembly - which gathers delegates from the Agency's nearly 160 member or participating countries worldwide - will kick start Abu Dhabi Sustainability Week and lead up to the sixth World Future Energy Summit (WFES), the world's foremost gathering dedicated to promoting sustainable technologies.

Titled 'Powering the Future of Energy Innovation', WFES 2013 will be co-located with the first International Water Summit at the Abu Dhabi National Exhibition Centre, which will also be the host venue for the International Renewable Energy Conference (ADIREC).

International Renewable Energy Agency (IRENA)

Abu Dhabi Sustainability Week (13 - 17 January 2013) will commence with the 3rd general assembly of the International Renewable Energy Agency's (IRENA) - an intergovernmental organization dedicated to renewable energy. IRENA's objective is to promote the widespread and increased adoption and the sustainable use of all forms of renewable energy. This includes renewable sources, such as bioenergy, geothermal energy, hydropower, ocean, solar, and wind energy. Please visit http://www.irena.org/.

World Future Energy Summit (WFES)

The annual World Future Energy Summit in Abu Dhabi is the world's foremost gathering dedicated to promoting sustainable technologies. Celebrating its sixth year in 2013, it is the leading international event for government and industry decision makers committed to finding viable, sustainable solutions to the world's growing energy challenges.

The summit is an unparalleled forum for political, business and intellectual debate, and for networking and transactions between manufacturers, suppliers and customers in both the public and private sector. It comprises a world-class conference, a large-scale exhibition, and an annual celebration of the winners of Abu Dhabi's Zayed Future Energy Prize, which recognizes global achievement in the fields of renewable energy and sustainable development.

Hosted by Masdar, Abu Dhabi's multi-faceted renewable energy company, the World Future Energy Summit also features the Project and Finance Village, the Young Future Energy Leaders programme, round table discussions, and various corporate events and social engagements.

To be held under the patronage of H.H General Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the World Future Energy Summit 2013 runs from January 15-17 at Abu Dhabi National Exhibition Centre. Please see http://www.worldfutureenergysummit.com/.


For more information, contact:

Reem Diab
ASDA'A Burson-Marsteller
Abu Dhabi, UAE
Tel: +9712-6334133
[email protected]


Source: International Water Summit 2013

Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...