Renewables to power $4b of new projects

Abu Dhabi: Renewable energy will account for up to 23 per cent of global electricity generation by 2030 and up to 50 per cent by 2050, according to the International Energy Agency, said Naji Al Haddad, exhibitions director of World Future Energy Summit (WFES) 2012. He added that trends point towards a steady evolution of renewable energy iinto a viable option in terms of cost, efficiency and emissions.

His comments come as organisers revealed that 25 upcoming renewable energy projects with a combined value of more than $4 billion (Dh14.68 billion) will go on display at WFES, which is being held in Abu Dhabi next week.

Product launches

The summit will also witness the Middle East launch of over 44 new products from 33 countries, organisers Reed Exhibitions announced yesterday.

The event has already attracted confirmed attendees from over 120 countries.

WFES 2012 is held under the patronage of General Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and hosted by Masdar.