With such initiatives as that of Masdar City, the UAE has also become a centre of reflexion where concepts and ideas of initiation of cleaner energy have recently materialised. Events of good importance were also held and one of the most important on the subject took place as part of the Abu Dhabi Sustainability Week early this year.
Abu Dhabi through its Masdar City initiative became well known for its wind and solar energy components and is rapidly developing into an example for the MENA’s attempt to drive from oil related investments.
Involvement in Oman, Jordan throughout 2013 and 14 gave it a chance to make itself known not only in the region but also in the world at large. This is particularly true when, last year was a first for Masdar when it acquired a stake in its first offshore wind project: the 402MW Dudgeon wind project in the UK, that is scheduled to be completed by the end of 2017. Moreover, it is not stopping there for it has set its eyes on not only the UK and Spain and other matured markets as termed by it, but also on other MENA Maghreb countries.
Reuters‘ article of this morning, on the subject is reproduced here below; it elaborates on the only OPEC member country to market all types of energy, e.g. renewables and fossils.
By Bate Felix
PARIS, Oct 30 (Reuters) – Policy shifts over climate change as countries seek to diversify energy sources have opened investment opportunities for renewables in the Middle East and North Africa (MENA), the head of UAE green energy firm Masdar said.
Countries in the region are increasingly setting renewable energy targets in their energy mix as demand grows, serving as a boost for investments in solar and wind power ventures, Masdar’s Chief Executive Ahmad Belhoul told Reuters in Paris.
“A few years back when Abu Dhabi set a target of 7 percent of renewable energy by 2020, nobody in the region had any renewable energy target. Today, there are targets being set in Jordan, Morocco, etc,” Belhoul said in an interview.
“What we have noticed is that, over the past couple of years, there has been significant interest by many governments in renewable energies. We have seen many policy changes that allow investors to come in,” he said.
Masdar, owned by Abu Dhabi state fund Mubadala, was set up with a $15 billion commitment to invest in green energy.
Further reading of the original UAE’s Masdar sees renewable energy opportunities in MENA region, please click on this title.