Alternative energy sector to grow by 25% annually
Renewables industry the focus of October convention in Dubai
The alternative energy sector is expected to grow 25% annually, and account for almost 70% of the global energy market spend through 2030, according to organisers of October's Oil & Gas Show in Dubai.
The sector’s current US $150 billion share of the estimated $800 billion worldwide energy infrastructure will rise by then to around $600 billion. Key issues related to this growth and the Middle East’s aggressive push towards alternative energy will be examined during the 2009 Alter Energy Convention running from October 27 to 29, 2009 at the Dubai International Convention and Exhibition Centre.
Gulf states are expected to collectively spend around $70 billion in energy projects in 2009 to accommodate massive energy consumption and demand growth. The UAE’s 10% average annual energy use growth alone is double the 4% global average. This has spurred heavy investments into various sustainable energy initiatives such as the MASDAR initiative, where renewable energies and green technologies are set as top priorities on the project's agenda to reduce the regions dependence on oil.
Alter Energy will gather international experts, regional decision makers, and “green” and renewable energy technology developers to discuss and debate the benefits and challenges of alternative energies.
“The economic downturn has reminded the world that it should plan well for the future. We still rely on traditional energy sources to generate 90 per cent of our power requirements. However, most of these are non-renewable and have devastating ecological effects. We need to turn this situation around and encourage closer collaboration among private and government entities through forums such as Alter Energy to explore sustainable solutions that can meet our energy needs while conserving our environment,” said Anselm Godino, managing director of International Conferences & Exhibitions, the organisers of the Alter Energy Convention.
To be held under the umbrella of the 2009 Oil & Gas Show (OGS), Alter Energy Convention 2009 will discuss and evaluate the regional and global outlook on carbon footprint and energy usage; the importance of oil and gas sector partnerships with alternative energy initiatives; sustainable regional water management; and the latest sustainability projects, techniques and technologies.