World summit in UAE pushes for renewable energy growth

The World Future Energy Summit 2015 (WFES) was convened here on Monday, with representatives from over 900 companies worldwide discussing the impact of low oil prices on renewable energies.

In his opening speech, Dr. Sultan Al-Jaber, United Arab Emirates (UAE) Minister of State, said the steep fall in oil price which hit a five-year low did not have negative impact on ongoing investments in renewable energies."

Egypt's president Abdel Fattah El-Sisi, who is on a two-day official visit in the UAE, said in his speech that his government plans to reform the policy of subsidiaries within five years in order to make Egypt "more competitive."

Sisi said his country was open for investments to double solar energy capacities in Egypt.

The Egyptian president called the UAE, a major oil supplier, an Arab state at the forefront of promoting renewable energies. The world's largest concentrated solar park "Shams one" was built here in March 2013.

According to WFES group event director Naji El-Haddad, the Middle East has renewable energy projects with a capacity of 37 Gigawatt in the pipeline which come into effect until 2020.

Another focus of the conference is water and energy in food security. The mostly deserted Arab Gulf states have to import 90 percent of its food needs.

According to the Abu Dhabi water and electricity authority, the Middle East and North Africa will invest 300 billion dollars on water and desalination projects by 2022.

The WFES 2015 fair and exhibition is expected to attract 32,000 professional visitors, policy makers and environmentalists from 170 countries and delegates is expected will run through Thursday, January 22.

The French minister for ecology, sustainable development and energy Segolene Royal said that a future energy mix must take into account the scarcity of resources and the competitiveness of an economically powerful state.

Speaking in a panel discussion on the first day of the four-day world future energy summit which runs here in its 8th edition, the French minister urged citizens and enterprises and states to think positively about all alternative ways to produce energy that can be generated without greenhouse gas.

Earlier in the month, Royal told the French media, that France shall consider building new nuclear reactors in order to replace the old ones because half of the existing 58 reactors will be reach the age of 40 years or beyond after 2020.

Nevertheless, Royal has drafted an energy transition law that aims to reduce the share of nuclear energy in France's total energy production to 50 percent from the current 75 percent.

Former United States vice president Al Gore was awarded here on Monday the Zayed future energy prize lifetime achievement award on the occasion of the opening of the 8th edition of the four-day world future energy summit.

The 8th world future energy summit runs through Thursday. Endit