International
Masdar CEO calls on regional financial institutions to support renewable energy
Dr Ahmad Belhoul, Chief Executive Officer of Masdar, Abu Dhabi’s renewable energy company, today delivered the keynote speech at the formal inauguration of the ninth World Future Energy Summit (WFES), the anchor conference and exhibition of Abu Dhabi Sustainability Week (ADSW), which ends on January 23.
Quoting a recent report by the International Renewable Energy Agency (IRENA) estimating that doubling the share of renewable energy in the global energy mix by 2030 could increase global GDP by more than 1 per cent, Dr Belhoul argued that the business case for clean energy was now beyond doubt.
“Nowhere is the business potential for clean energy greater than here in the Middle East,” he said, “While the UAE will remain committed to its historic role as a global leader in all the energies, conventional and alternative, the policy and economic imperatives of renewable energy are now aligned.”
“Both policy makers and business leaders value the long-term price stability of an asset class that is removed from the fluctuations of global commodity markets,” he stated.
Dr Belhoul added that after pursuing a number of successful projects overseas, Masdar was now turning its attention to the many opportunities in the region, and called on financial institutions to throw their weight behind the sector.
“Globally, investment in renewable energy must double if expansion targets are to be met, to at least $500 billion per year. Regional financial institutions must act to ensure our industry secures the capital it needs to grow.”
Dr Belhoul also noted that the numbers of buyers attending ADSW this year had increased sharply compared to 2015, underlining the business potential of the clean energy sector across MENA.
-
Oil & Gas2 months ago
Oman Oil Exports Exceed 135.3m Barrels by End of June 2024
-
Commodities2 weeks ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
OERLive TV2 months ago
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
-
Banking & Finance3 weeks ago
Apple Pay Officially Launched in Oman
-
Uncategorized2 weeks ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Investment2 weeks ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
OER Magazines4 weeks ago
OER, September 2024
-
Alamaliktistaad Magazines1 month ago
Al-iktisaad, September 24
You must be logged in to post a comment Login