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Investment in clean energy tops agenda at WETEX 2016

posted on 26/08/2016: 1389 views



Investing in clean energy will top the agenda of discussions during the 18th Water, Energy, Technology, and Environment Exhibition (WETEX 2016) which will be organised under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of Dubai Electricity and Water Authority (DEWA).

DEWA, organisers of the event to be held from 4-6 October, announced that the 18th WETEX 2016 is expected to see over 23,000 visitors and the participation of over 1,900 companies from around the globe. The key objective of the exhibition is to show the latest and major technologies and international practices of clean and renewable energy to save the environment for generations to come and preserve their right to live in a clean, healthy, and safe environment and a happy community.

Dubai Clean Energy Strategy 2050, launched by H.H. Sheikh Mohammed Rashid Al Maktoum, aims to provide 7 per cent of Dubai's total power output from clean energy sources by 2020, 25% by 2030, and 75% by 2050, Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) said. "Organising WETEX under the umbrella of Green Week and in conjunction with the inaugural Dubai Solar Show will have an instrumental role in boosting investment in clean energy and raising its returns on economy and environment. We will also benefit from the position of WETEX as an international platform to highlight ideal investment solutions in this industry and its major investment opportunities in Dubai," said "UAE Vision 2021 and the Dubai Plan 2021 have set the roadmap that includes ambitious initiatives and development projects, which clearly define government strategies, most importantly in sustainable development," Al Tayer added.

During the exhibition, DEWA's stand will feature major renewable energy projects regionally and globally. These projects include the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site project to generate electricity from solar energy in the world, with a planned capacity of 5,000 megawatts (MW) by 2030, and total investment of US$13.6 billion (AED 50 billion) to save approximately 6.5 million tonnes per annum in emissions.

Moreover, DEWA will show the potential of cooperation with specialised companies in energy performance contracts, and with suppliers of equipment and green technologies through DEWA's Etihad Energy Services Company (ESCO).

Other pioneering initiatives that will be presented by DEWA this year are Shams Dubai, which allows customers to install photovoltaic panels on their rooftops to generate electricity from solar power and connect them to DEWA's grid, the Green Charger initiative, and the Smart Applications via Smart Grids and Meters.

"The UAE attaches great importance to the diversification of its energy mix, and increasing the share of renewable and clean energy. In Dubai, we have adopted the Independent Power Producer (IPP) model to drive economic prosperity and increase investments in energy," Al Tayer concluded. – Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395299155873.html

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