US$11 billion in deals at the World Future Energy Summit

Photo: WAM

The World Future Energy Summit, WFES 2019, a key enabler of Abu Dhabi Sustainability Week, has facilitated deals valued at US$10.5 billion to be implemented across 20 countries during its four-day run at the Abu Dhabi National Exhibition Centre.

The event saw a consortium led by Masdar and France’s EDF win a tender to build a US$500 million 400-megawatt wind farm in northern Saudi Arabia as part of the country’s efforts to increase its renewable energy capacity to 60 gigawatts by 2030.

Abu Dhabi Waste Management Center, Tadweer, the strategic partners of the sixth EcoWASTE exhibition, awarded new operating contracts, cumulatively valued at AED1.099 billion, to leading providers of solid waste collection and transportation and street sweeping and cleaning services in the third, fourth and fifth sectors of Abu Dhabi mainland and Al Dhafra Region.

Solar Energy Corporation of India, SECI, a company of the Indian Ministry of New and Renewable Energy and the only central public sector entity dedicated to solar energy in the country, unveiled its US$7 billion Cold Desert Regions Ultra-Mega Solar Power project. SECI invited global investors to participate in the multi-billion-dollar alternative energy investment opportunities created by the state-backed scheme.

WFES 2019 convened more than 34,000 attendees in addition to 3,000 students from over 150 countries, including 15 heads of state, as well as more than 100 ministers and 3,000 participants from some of the world’s largest companies operating in the sustainability and renewables sectors. The event enabled attendees to share best practices, unveil new products, and discuss innovative solutions to present and future challenges across the entire sustainability spectrum. In addition, the expo hosted over 800 exhibiting companies from 40 countries.

Held under the ongoing patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, WFES is widely recognised for its unique ability to attract public and private leaders to address the critical issues and identify the actions that must take place globally at corporate, policy and economic levels.

Under the theme ‘Embracing the Future, Welcoming Disruption’, this year's summit achieved significant strides through driving imaginative solutions to the interconnected challenges of energy transformation, disruptive technological change, and sustainable development. The platform has reinforced the effort in promoting global sustainable development through innovation and investment in priority sectors such as energy, transportation, and water along with others.

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