ENN Twitter
MASDAR SET TO CAPITALISE ON INTERNATIONAL ADOPTION OF RENEWABLE ENERGY
MASDAR SET TO CAPITALISE ON INTERNATIONAL
ADOPTION OF RENEWABLE ENERGY
Masdar sees opportunities to advance renewable energy solutions in global markets
Abu Dhabi,
January 19, 2009
— Masdar chief executive Dr. Sultan Al Jaber announced
today that Masdar, a multi-faceted future energy initiative wholly owned
by the Mubadala Development Company, is well-positioned to capitalise
on the “undeniable momentum and long term viability” of renewable
energy technology in his keynote speech at the World Future Energy Summit
in Abu Dhabi.
Dr. Al Jaber acknowledged
the recent global economic downturn in his opening ceremony address,
but said that the renewable energy sector continues to grow and pointed
to recent global commitments that call for increasing investment and
deployment of renewable energy technologies.
The Government of Abu
Dhabi has indicated its own commitment to the adoption of renewable
energy, and will soon publish a comprehensive energy policy that includes
a pledge that by 2020, renewable energy sources will account for at
least 7 percent of the Emirate’s total power generation capacity.
Masdar estimates this commitment will create a renewable energy market
valued at US$6-8 billion in the Emirate, creating business opportunities
for local and international companies.
“Masdar will be at
the forefront of the research, development and deployment of solutions
that will enable governments around the world, including our own, to
meet the targets they are setting for the adoption of renewable energy,”
said Dr. Al Jaber, speaking at the summit.
In the past 12 months,
Masdar has made significant advancements across the full spectrum of
renewable energy solutions to help build a renewable energy sector in
Abu Dhabi and to accelerate the deployment of clean technologies globally.
Breaking ground on the development
of Masdar City — the world’s first carbon-neutral city
Building a solar manufacturing
plant in Germany, creating green-jobs and technical know-how to transfer
to Abu Dhabi
Enrolling a pre-class of students
at the Masdar Institute — the world’s first graduate institution
dedicated to future energy solutions
Investing in leading renewable
technologies, forming joint ventures, and R&D partnerships to apply
scale and capital to accelerate technology deployment and commercialization
In addition, international
evidence of the widespread adoption of renewable energy includes recent
commitments by the Governments of Australia and the United States to
make significant investments in renewable energy technologies, a commitment
by the European Parliament to reduce carbon emissions by 20 percent
by 2020, and international efforts led by the Governments of Germany,
Denmark and Spain to establish an International Renewable Energy Agency,
dedicated to the widespread adoption of renewable energy on a global
scale.
“Looking at recent
local and international commitments, it is our view that the world has
reached a tipping point in the acceptance of renewable energy,” he
said. “We have a long, challenging journey ahead of us, but we are
heading in the right direction and the progress we are making is irreversible.”
“It is a testament
to the will of our leadership, HH Sheikh Khalifa bin Zayed Al Nahyan,
President of the UAE and Ruler of Abu Dhabi, and HH Sheikh Mohamed bin
Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander
of the UAE Armed Forces, under their guidance Masdar will provide a
comprehensive solution to the world’s energy challenges and maintain
Abu Dhabi’s position as a leading supplier of energy to the world,”
he added.
Masdar is host of the
World Future Energy Summit, which commenced today and attracted more
than 15,000 delegates, 300 exhibitors and 20 government delegations
to discuss the global response to future energy challenges.
###
About Masdar
The Masdar Initiative
is Abu Dhabi’s multi-faceted future energy initiative advancing the
development, commercialization and deployment of renewable and alternative
energy technologies and solutions. Masdar is driven by the Abu Dhabi
Future Energy Company (ADFEC), and is wholly owned by Mubadala Development
Company. For more information about the Masdar Initiative, please visit
www.masdaruae.com
.
High-resolution images and videos of
Masdar City and the 2009 World Future Energy Summit are available at
http://www.flickr.com/photos/masdar/
and
http://www.thenewsmarket.com/masdar
Contact Info:
Press Contacts:
Masdar:
Zarmineh Rab
Corporate Communications Manager
Tel +971 50 450 2315
Americas
Mike Iacovella
Mobile +917 532 7977
UK/EU
Kirstin McKellar
Tel + 44 20 3047 2207
Mobile +44 7967 414 389
Website :
Masdar
