$4 billion of renewable projects on show at WFES
Project Village area will host 25 renewable mega-projects in Abu Dhabi
The combined value of renewable energy projects confirmed for the Project Village at the 2012 World Future Energy Summit has reached more than US$4 billion, it has been confirmed.
Those projects are on top of the large-scale investments in renewable energy under development by Masdar, Abu Dhabi’s multi-faceted renewable energy company and host of WFES, and other companies exhibiting at the summit in January.
Twenty five projects, spanning photovoltaic power, wind energy, solar thermal, waste-to-energy, concentrated solar power and other technologies, have already confirmed for the Project Village, which highlights selected projects from MENA countries, India and other international markets.
Introduced at WFES 2011 as a business and networking platform for project owners, developers and solutions providers, the Project Village complements a growing pipeline of renewable energy initiatives – from the world’s largest concentrated solar power plant Shams 1, located in Abu Dhabi’s Western Region, to the 1,000-megawatt London Array wind farm.
WFES Exhibition Director Naji El Haddad said: “The increasing interest in the Project Village component of the summit demonstrates the success of WFES as a marketplace for technology suppliers, investors and other stakeholders committed to the realization of clean energy.
“Through the Project Village, we bring together the decision makers that can action real progress on existing partnerships and agree new collaborations. Confirmations for the Project Village for 2012 indicate the growing involvement of the private sector in the renewable energy space and reflect Abu Dhabi’s leadership in developing renewable projects in the Middle East and overseas markets.”
Countries represented at the Project Village so far include the UAE, Saudi Arabia, Egypt, Jordan, Morocco, India, South Africa, Sudan, the UK and US.
Supported by IRENA and held in association with Ernst & Young and Bloomberg New Energy Finance, the initiative highlights both new and planned developments, helping to source technology, secure financing and enter into business partnerships.
El Haddad said: “Five years after the first WFES, the Summit is now established at the centre of the global renewable energy industry. That’s the reality as we prepare for the 2012 edition of WFES. With another 10 projects expected to participate, the value of developments within the Project Village for 2012 may easily surpass US$4 billion.”
Flagship projects already confirmed for the Project Village include a 200-megawatt wind farm under development on the Gulf of Suez, led by Egypt’s New and Renewable Energy Authority; a 160-megawatt solar power plant by ACWA Power of Saudi Arabia; and the US$400 million Shams Ma’an photovoltaic power plant under way in Jordan.
Now in its fifth year, the World Future Energy Summit is the world’s foremost annual meeting committed to promoting advancement of renewable energy, energy efficiency, and the water and waste sectors.
The annual summit engages political, business, finance, academic and industry leaders to drive innovation, business and investment opportunities in response to the growing need for sustainable energy.
On the theme Powering Sustainable Innovation, WFES 2012 will stage both a high-level conference and exhibition, with companies from all over the world promoting their latest products and services.
Over 26,000 attendees, including 3,000 delegates, 650 exhibiting companies and 20 national pavilions, are expected to participate in the summit.
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, and hosted by Masdar, the World Future Energy Summit 2012 runs from January 16-19 at Abu Dhabi National Exhibition Centre.