Leaders hail Masdar initiative at WFES

Abu Dhabi: Leaders attending the second edition of the World Future Energy Summit in Abu Dhabi yesterday hailed the Abu Dhabi government's pioneering Masdar initiative that aims to provide solutions to challenges posed by the rising global usage of energy.

"It's a fantastic initiative by the leadership of Abu Dhabi. Investments in increasing energy efficiency and renewables will benefit the region and benefit the world," said Denmark's Minister of Climate and Energy Connie Hedegaard.

She said currently 17 per cent of Denmark's energy needs are met from the usage of renewable energy.

"We are targeting to increase the share of renewble energy in our energy mix to 20 per cent by 2011 and to 30 per cent by 2020," Hedegaard added. The bulk of this additional renewable energy will be generated from sources like wind, solar power and biofuels, she said.

Switzerland's Minister of Energy, Environment and Public Transport Moritz Leuenberger said the Masdar initiative is an inspiration for the world's developed and developing countries to cut their fuel emissions and increase their usage of alternative energy.