ABU DHABI, UAE, Nov. 15, 2022 /PRNewswire/ — His Excellency Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, called for the world to use all available energy sources, including renewables and hydrogen, to meet the energy needs of a growing world population.
“If this year has taught us anything, it is that energy security is the foundation of all progress: economic, social and climate progress,” said Dr. Al Jaber in his keynote address at the International Petroleum Exhibition and Conference of Abu Dhabi (ADIPEC). With a world population set to reach 9.7 billion people in 2050, the world will need to produce 30% more energy than it does today.
“The world needs all possible solutions. Oil and gas, solar, wind and nuclear power, and hydrogen, plus the clean energies that are yet to be discovered, commercialized and deployed,” said Dr. Al Jaber. “The world needs maximum energy… and minimum emissions. That’s why the UAE leadership decided to be the first in renewable energy, more than 16 years ago, by launching Masdar.”
Masdar, Abu Dhabi’s leading renewable energy company, was established to support the diversification of the UAE’s economy and energy sources by encouraging the development, deployment and commercialization of renewable energy and clean technologies.
Today, Masdar is one of the fastest growing renewable energy companies in the world, operating in more than 40 countries and investing in projects valued at more than $20 billion. Last year, Masdar expanded the capacity of its clean energy portfolio by 40%, reaching a total capacity of more than 15 gigawatts (GW). These projects can displace 19.5 million tons of carbon dioxide emissions per year.
Masdar is targeting a portfolio capacity of 100 GW by 2030 and aims to supply 1 million tonnes of green hydrogen by the end of this decade, cementing its place as a pioneer in this promising industry and positioning Abu Dhabi as a global hub for the production and export of green hydrogen.
“With COP27 meeting next week and as the UAE prepares to host COP28, the Emirates Climate Conference, our efforts must focus on a bold, realistic and pragmatic new path that benefits humanity. , the climate and the economy,” said Dr. Al Jaber. “We have to curb emissions, not progress.”
Watch the speech here: https://lnkd.in/d7gT6eVF
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