S01 WFES Dailies 2016 - Day 3_Layout 1 19/01/2016 16:05 Page 1
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DAY 3 20 JAN 2016
Top business case for renewables
Masdar CEO, Dr Ahmad Belhoul, shares the financial benefits of green energy In his welcome address to the World Future Energy Summit (WFES), Dr Ahmad Belhoul, CEO of Masdar, was upbeat about the financial opportunities, as well as the environmental benefits, of renewable energy. “The economic case for renewables is clear,” Dr Belhoul told WFES. “Let’s all use this global platform to take action.” “Nowhere is the business potential greater [for renewable development and investment] than in the Middle East and North Africa,” said Dr Belhoul. He cited Jordan’s first wind power project, Morocco’s target of more than 50 per cent renewables in its energy mix by 2030, and the UAE’s target of 24 per cent renewables by 2021 as examples of the growth and commitment to alternative forms of energy in the region. He said that a report into renewable energy by IRENA estimated that doubling the use of renewables by 2030 could potentially create 24 million jobs. Dr Belhoul said there has been a “dramatic improvement in the cost-competitiveness of renewable energy”, with the price of solar PV technology falling by 75 per cent and the price of wind turbines falling by 30 per cent.
expands. As countries recognise the need to develop renewable energy, Dr Belhoul said “we are now past the point of reflection.”
He called for “greater innovation in the financial sector” and said that “investment targets must double” to ensure the renewable energy industry
Describing the UAE as a “global energy leader”, Dr Belhoul said that WFES is now “the world’s most influential business platform for renewable energy.”
CONTENTS News from the second day of WFES
3
A preview of the Future Cities Forum
10
India transitions towards wider use of renewables
15
The importance of carbon capture and storage
16
Profiles of leading WFES speakers
24
Meeting major water management challenges
26
Innovative projects showcased at WFES
28
Gallery: Another busy day at WFES 2016
42