The UAE State of Energy Report 2019 was released on Wednesday with Masdar CEO Mohamed Jameel Al Ramahi discussing the key findings during a panel session at the launch event in Abu Dhabi, in the presence of HE Eng Suhail Mohammed Al Mazrouei, Minister of Energy & Industry.
The comprehensive report highlights the aims and achievements of the country’s Energy Strategy 2050 and in particular the progress made in reducing the share of the hydrocarbons sector in the overall economy from 40 per cent of GDP in 2012 to currently less than 20 per cent.
The fundamental goal of the Energy Strategy 2050 is to diversify the national energy mix, with the UAE committed to investing AED600 million to increase the share of clean energy sources in the total capacity mix to 50 per cent by 2050.
Appearing on a panel and representing Masdar as a Bronze Sponsor of the report, Al Ramahi was joined by HE Eng Fatima Alfoora, Assistant Undersecretary for Electricity Affairs and Water, UAE Ministry of Energy and Industry; HE Eng Mohamed Alhammadi, CEO, Emirates Nuclear Energy and Omar Al Suwaidi, Director, Executive Office Directorate, ADNOC.
Al Ramahi said: “Guided by the Energy Strategy 2050, the UAE has become a global benchmark for the development of a modern, sustainable, efficient, diversified and commercially viable energy sector. As the global renewable energy leader of Abu Dhabi, Masdar is a committed partner of the strategy and in particular, its aim to increase the share of clean energy in the UAE’s power mix to 50 per cent by 2050, while further reducing power demand through advancements in energy efficiency and sustainable real estate.”
“Awareness building and dialogue will continue to play an important role in enabling the UAE’s energy transition,” Al Ramahi added. “That is why we are proud to host Abu Dhabi Sustainability Week, today one of the world’s largest sustainability gatherings, and to support the UAE in leading many other successful community engagement initiatives.”
The report contains a number of references to Masdar’s domestic and international projects from its Clean Energy portfolio and an in-depth case study of the waste-to-energy plant in Sharjah, currently under development in partnership with Bee’ah.
The Emirates Waste to Energy Company’s joint venture will address the critical need to divert municipal solid waste from landfill sustainably while also helping to meet the growing power demands of Sharjah. Set to begin operations in the fourth quarter of 2020, the plant will help Sharjah deliver on its zero-waste-to-landfill target and the UAE’s 2021 goal of diverting 75 per cent of solid waste from landfill.