Masdar Encourages Global Leaders to Join Abu Dhabi in Developing Future Energy Solutions
Today, in an address on future energy issues at the World Economic Forum’s (WEF) Middle East Meeting, Dr. Sultan Al Jaber, CEO of the Masdar Initiative urged world leaders to join Abu Dhabi’s efforts to direct both intellectual and capital resources toward the development of alternative energy as part of the portfolio of energy solutions required.
With the International Energy Agency projecting that an investment of $22 trillion by 2030 is required to meet the world’s rapidly growing need for energy Dr. Sultan’s comments were particularly timely.
“There are inspiring examples of pioneering alternative energy ventures but they are often under-funded, under-supported by regulators and under-recognized,” Dr. Al Jaber told the ‘Fuelling the Future’ panel session at the World Economic Forum on the Middle East (WEF) in Sharm El Sheikh.
Dr. Al Jaber was speaking at the WEF meeting which was opened yesterday by Egyptian President Hosni Mubarak, Jordanian King Abdullah II and US President George W Bush, drew more than 1,900 participants including 14 heads of State, Ministers, and leading figures from business, civil society and the media.
“The key to the new energy evolution will of course be people. The best people, with the very best resources. You are these people and you are uniquely placed to make a real and lasting difference”, Dr. Al Jaber told the attendees.
Furthermore, Dr. Al Jaber asked the panel attendees to use their influence, finance and knowledge to collaborate on the future energy challenge.
“Our theme at the forum this year is Learning from the Future and that is exactly what the Abu Dhabi leadership is setting about doing with its support and commitment of Masdar”, he added.
In the forum, Abu Dhabi’s Masdar initiative was well received and Dr. Al Jaber met with regional and international leaders to discuss the Masdar Initiative and explore collaborative efforts on the future energy challenge.
“Masdar is a natural extension of Abu Dhabi’s energy leadership and is a strategic effort through Mubadala to maintain and build on this energy leadership position”, Dr. Al Jaber explained. “We recognize that a portfolio of energy solutions is needed to satisfy future demands and this portfolio must contain sustainable options. However, no single country can do this alone, we need a global collaborative response.”
”The total global market for fuel cells, solar, wind and biofuels is forecast to grow fourfold from $39.2 billion in 2005 to $167 billion by 2015 and the global solar PV market grew 69% last year” Dr. Al Jaber explained. “These numbers underscore not only the challenge ahead but also the potential gains. We are entering a period of huge transition. A period in which only the most ambitious endeavors will succeed." he continued.
The meeting in Sharm El Sheikh, held under the theme ‘Learning from the Future’, is designed to highlight the actions that need to be taken today to meet the challenges and opportunities for the region in the next 20 years and beyond.
