Masdar chief executive Dr Sultan Al Jaber in his keynote speech at the World Future Energy Summit announced 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.
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 per cent of the Emirate’s total power generation capacity. Masdar estimates this commitment will create a renewable energy market valued at USD 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 commercialisation
“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.”
Masdar is host of the World Future Energy Summit 2009, which is attended by more than 15,000 delegates, 300 exhibitors and 20 government delegations to discuss the global response to future energy challenges.
