The Third Session of World Future Energy Summit will open today in Abu Dhabi under the patronage of General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Delegates from 98 countries, including heads of state, and the senior UAE officials are expected to attend the four-day event.
More than 1,400 CEOs of firms operating in the energy and renwable enrgy sectors will participate and 700 journalists from international media organisations will cover the event. The summit is expected to attract more than 20,000 people interested in this field.
On the sideline of the summit, an exhibition in which 51 countires are taking part, will be held to showcase modern facilities and equiment for sustainable and renewable energy. A 40,000 sq m area was allocated for the exhibition. On the second day of the summit winners of Zayed Future Energy Prize will be announced.
Dr Anwar Mohammed Gargash, Minister of State for Foreign Affairs, inaugurated the Third Preparatory Session of Irena yesterday in Abu Dhabi.
The opening session of the meeting was chaired by Dr Sultan Ahmed Al Jaber CEO of Masdar. He outlined the agenda for the meeting which has received the consent of all members.
Also, the member states' representatives of Irena began to deliver their speeches which focused on the steps taken by the countries to promote the uses of new and renewable energy in addition to its use in various areas of daily life and reduce carbon emission.
The preparatory session discussed 25 items including the adoption of the agency's budget in the current year – $15 million (Dh55m). It also thrashed out the investment mechanism of $50m submitted by Abu Dhabi Fund for Development to support Irena this year.
The fund has pledged to submit contributions estimated at $350m for seven years to invest in renewable energy projects.
Helen Pelosse, Director-General of Irena praised the enormous support offered by Abu Dhabi Future Energy Company, or Masdar, to establish Irena in Abu Dhabi.
She pointed out that Masdar Institute of Science and Technology offered 20 scholarships to Irena to support and establish its technical and administrative cadres.
Pelosse, in her speech during the third meeting of the Preparatory Committee of Irena, held at Emirates Palace in Abu Dhabi, presented a report on what has been done on the establishment of Irena.
She said that 50 per cent of Irena's employees will be women to accomplish gender equality.
Renewable energy is one of the key solutions to address the current challenges facing the future of energy in the world, including global warming, natural resource depletion, population growth, increased energy demand, rising energy prices and the inequitable distribution of energy sources, where all contribute in promoting the need to shift the energy sector to renewable sources and to take measures to use energy efficiently and effectively.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.