Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Israeli drones kill two paramedics, injure four in southern Lebanon    Trump's new attorney general nominee sparks concerns over DOJ independence    Australia drops proposed laws to regulate social media misinformation    Six Palestinians killed in Israeli airstrikes on central Gaza    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



WFES 2013 to power growing investment in cleantech energy
Published in The Saudi Gazette on 08 - 12 - 2012

JEDDAH — More than $8 billion of international cleantech and renewable energy projects are expected to be on display at the Project & Finance Village during the sixth World Future Energy Summit (WFES) in Abu Dhabi slated on Jan. 15-17, 2013.
The Project & Finance Village was introduced in 2011, and this year's Village at WFES 2012 attracted 27 projects worth over $5 billion from the Middle East, India, North Africa and other regions, providing an influential platform for project developers, entrepreneurs, banks and financiers to connect.
Naji El Haddad, Show Director for WFES 2013, expects 40 projects to be exhibited during next January's Project & Finance Village under the theme ‘Powering the Future of Cleantech and Renewable Energy Investments'.
“Investment in cleantech and renewable energy continues to grow globally, and the Project & Finance Village at WFES 2013 will play a crucial role in future investment by allowing companies, investors and developers to showcase their plans, enable investment and create financial rewards for world-class ideas.”
Next January's Project & Finance Village at WFES 2013, in association with Ernst & Young and supported by Bloomberg New Energy Finance, will have increased participation from banks, donors and cleantech entrepreneurs, and discussions will include new topics such as renewable energy in rural areas.
Nimer AbuAli, Ernst & Young Middle East and North Africa Cleantech Leader, said the connection between innovators and investors is essential in the development of cleantech solutions.
“We believe the World Future Energy Summit in Abu Dhabi is an important platform to engage leaders, decision-makers and innovators to develop new ways of shaping the future of renewable energy. While the widespread use of alternative energy in our region is low, we are seeing a steady increase of early stage projects focused on raising awareness around cleantech and sustainable development across multiple sectors.”
“As our region develops, it is critical that we diversify away from purely petro-based energy, we have reached a pivotal moment where we must look to invest increasingly in renewable and clean energy to fulfill domestic consumption and to conserve valuable energy reserves,” he said.
The International Renewable Energy Agency, which recently announced a $50 million funding cycle for renewable energy projects in conjunction with the Abu Dhabi Fund for Development, has endorsed the Project & Finance Village at WFES 2013.
Frank Wouters, Deputy Director-General of IRENA, believes that there has never been a better time for promoting renewable energy in the developing world. “Costs have fallen, demand is growing, and renewables offer an unprecedented opportunity to broaden access. But we need finance to make this a reality.”
Governments and businesses are taking advantage of the keen interest in the sector, with global investment in clean energy totaling $56.6 billion in the third quarter of 2012, according to Michael Liebreich, Chief Executive of Bloomberg New Energy Finance (BNEF).
“The third quarter figure is roughly equivalent to investment in the whole of 2004. The location of some of the biggest projects financed in Q3 this year highlights the geographical shift that is taking place in clean energy, with newer markets in South America, Asia, the Middle East and Africa picking up steam,” he said.
The summit, hosted by Masdar, Abu Dhabi's multi-faceted renewable energy company, is the centerpiece of Abu Dhabi Sustainability Week (ADSW) and will be co-located with the inaugural International Water Summit, also hosted by Masdar. During this time, WFES 2013 will also be the host venue for the prestigious biennial International Renewable Energy Conference in Abu Dhabi (ADIREC). — SG


Clic here to read the story from its source.