The Emirate of Abu Dhabi will host POWER-GEN Middle East from 12th-14th October, 2014 at the Abu Dhabi National Exhibition Centre, ADNEC, which will review the most significant renewable energy projects in the United Arab Emirates and Arabian Gulf area, Nigel Blackaby, Director of POWER-GEN Middle East 2014, said.
He said today in Abu Dhabi that the conference and exhibition, which hosts delegates and international experts in the fields of electricity and water from more than 65 countries, will discuss energy challenges, future projects and the high demand for energy into the future.
He also mentioned that demand for electric energy in GCC will rise during the next five years by about 43% because of huge residential and industrial investments that reach US$283 billion.
He estimated the annual demand for electric energy in the GCC to rise by about 8.3%, saying that the GCC is willing to increase electricity production by 156 gigawatts during the next five years to be added to the current energy amount of 234 gigawatts.
Blackaby also emphasised that the GCC is still the world most attractive area for global investments in the energy industry.
He said that the huge economic growth and the rise of demand for energy projects in the Gulf area will attract more investors.
Blackaby predicted that renewable energy in the Middle East and North Africa market will witness growth from 9 to 11% until 2020, based on estimations from Frost and Sullivan.
He added, "Solar energy and wind energy witnesses remarkable growth that reaches 9% annually in the Middle East, which proves that countries in the region are serious about finding new power sources." Blackaby also explained that the world interest in the Middle East is associated with the rise of demand, in the future, of the electricity sector, which is relatively estimated at 7% annually, and which is likely to require an investment of $283 billion in the overall power sector in the region from 2014 to 2019.
He stressed the importance of cooperation with the Abu Dhabi Tourism and Culture Authority's Convention Bureau to organise this event, which is expected to host more than 4,000 participants from more than 65 countries, saying that this event is in line with the Abu Dhabi Vision 2030, that strives to transform Abu Dhabi into a centre for a modern world economy and a world headquarter for renewable energy, referring to Abu Dhabi's success in hosting the headquarters of IRENA agency.
He also said that holding this exhibition and conference, "Reflects our commitment in supporting growth and sustainability in Abu Dhabi, and sustaining position of the emirate that embraces dialogues and solutions related to vital industries to local and international economics." During the event, experts will focus on providing world energy security, developing cooperation in the global energy field and insuring sustainable economical development in the Middle East.