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19/01/2017 - 19:45hs

Summit generates renewable energy investments

The 10th World Future Energy Summit ended this Thursday in Abu Dhabi with an increase in the number of exhibitors, visitors and business meetings.

Muhammad Amir/WAM

Saudi Arabia will launch bidding rounds for projects worth USD 50 billion

São Paulo – The 10th World Future Energy Summit ended this Thursday (19) in Abu Dhabi, United Arab Emirates. According to information from the Emirates News Agency (WAM), there was a significant increase in the numbers of business activities generated by the event. The number of business meetings, for instance, climbed more than 60%.

The summit was the main activity of the Abu Dhabi Sustainability Week and aimed to promote businesses in the sectors of clean energy, water resources management and waste management. It was organized by Masdar, the company from the emirate that operates in these sectors.

According to WAM, preliminary data shows that the event had 880 exhibitors from 40 countries and 38,000 visitors of 175 different nationalities, including 1,675 CEO from 128 nations. Last year, the summit had 850 exhibitors and 35,000 visitors. Near 8,600 business meetings were held, against 5,300 in 2016, an increase of 62%.

The Saudi Arabia project to add 10 gigawatts of renewable sources to its power grid offered the first business opportunities. The minister of Energy for Saudi Arabia, Khalid Al Falih, said that the first bidding rounds for projects that reach up to USD 50 billion will be launched in two weeks.


Masdar purchased a 25% stake of a wind farm in the North Sea

Another highlight was India’s plans to add 175 gigawatts of renewable sources until 2022.

Other initiatives announced were an agreement for a joint venture between the Dubai Electricity & Water Authority (DEWA) and Masdar for the building of a third sector for solar energy plant Mohammed Bin Rashid Al Maktoum Solar Park, which will become the world’s largest with 800 gigawatts installed capacity; and the creation of an UAE’s fund worth USD 50 million to finance renewable energy projects in the Caribbean.

Also made public were an agreement between Masdar and the Qatari companies Qatar Electricity & Water Co. and Nebras Power to develop projects in the renewable energies sector; the purchase by Masdar of a 25% stake in the Hywind Scotland floating wind farm in the North Sea; an agreement signed by Masdar and the Sharjah-based company Bee’ah for the building of a wast-to-energy plant in the emirate with a capacity for 300,000 tons; and that Masdar will offer consulting services for the building of a 5 megawatts solar power plant in the Seychelles.

*Translated by Sérgio Kakitani

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