ABU DHABI, UAE: His Excellency Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, called for the world to utilize all available energy sources, including renewables and hydrogen, to meet the energy needs of a growing global population.
“If this year has taught us anything, it is that energy security is the foundation of all progress – economic social and climate progress,” Dr Al Jaber said in his keynote address at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). With the global population set to reach 9.7 billion people by 2050, the world will need to produce 30 per cent more energy than today.
“The world needs all the solutions it can get. It is oil and gas and solar, and wind and nuclear, and hydrogen plus the clean energies yet to be discovered, commercialized and deployed,” Dr Al Jaber said. “The world needs maximum energy… minimum emissions. This is why the UAE leadership decided to be a first mover in renewable energy, over 16 years ago, by launching Masdar.”
Masdar, Abu Dhabi’s flagship renewable energy company, was launched to support the diversification of the UAE’s economy and energy sources through advancing the development, deployment and commercialization of renewable energy and clean technology.
Today, Masdar is one of the fastest-growing renewable energy companies globally, active in over 40 countries, and invested in projects valued over US$20 billion. Last year, Masdar expanded the capacity of its clean energy portfolio 40 percent, to a total capacity of over 15 gigawatts (GW). These projects can displace 19.5 million tonnes of carbon dioxide emissions annually.
Masdar is targeting a portfolio capacity of 100 GW by 2030 and aims to supply 1 million tonnes of green hydrogen by the end of this decade, cementing its place as a first mover in this promising industry and position Abu Dhabi as a global hub for the production and export of green hydrogen.
“With COP27 meeting next week and as the UAE prepares to host COP28, the Emirates Climate Conference, our efforts should focus on a new, bold, realistic and pragmatic pathway that benefits humanity, the climate and the economy,” Dr Al Jaber said. “We need to hold back emissions, not progress.”