ABU DHABI, 8th July, 2019 (WAM) -- The World Future Energy Summit, will host an unrivalled gathering of top-level government and business leaders when it returns to Abu Dhabi in January 2020, further reinforcing its place as the leading global event and business marketplace for future energy, cleantech and sustainability.
Hosted by Masdar and part of Abu Dhabi Sustainability Week, the World Future Energy Summit will take place at the Abu Dhabi National Exhibition Centre, ADNEC, from 13th-16th January.
Around US$10.5 billion worth of new business was announced during the 2019 edition, and that figure is expected be higher in 2020 as the global and Middle East market for renewables continues to experience strong growth.
"The World Future Energy Summit provides the perfect platform that connects government, business and finance to enable the advancement and transfer of ideas, technology and investment to stimulate sustainable development and growth," said Grant Tuchten, Group Event Director.
"The event facilitates the acceleration of sustainable development and innovation. We have the policy makers, the buyers and the vendors of sustainable solutions, the investors and financiers, and innovators bringing new ideas, all coming together in Abu Dhabi," he added.
Held annually, the World Future Energy Summit will include exhibition and forum programmes across five main pillars -- energy, solar, water, waste and smart cities.
Data from the International Renewable Energy Agency, IRENA, shows that renewables now account for 63 percent of new capacity added to the global supply of electricity. Installed renewable energy capacity grew by 7.9 percent worldwide in 2018 – adding around 171 gigawatts (GW) of additional supply to reach a total of 2,351 GW.
In the Middle East, with its high levels of solar potential, supply grew by 7.1 percent or an extra 1.3 GW, to reach a total of around 20 GW installed capacity, while the GCC states are planning an additional 7 GW of new power generation from renewable sources by the early 2020s. The installed capacity of renewable energy in the GCC grew four-fold just in the period from 2014 to 2017, and the region is placing renewable energy – and sustainability more generally – at the centre of economic planning.
"Renewables are now the largest source of energy growth, accounting for around two-thirds of the increase in global power generation, with rapid adoption driven by dramatically falling costs," Tuchten continued.
"Looking forward, much of the growth potential is in developing markets, with China, India and other Asian countries accounting for almost half the growth in the world’s renewable power generation," he concluded.