World Energy Forum host UAE leads sustainable energy investment

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World Energy Forum started on 22 october and will close on 24 October. This is the first time the Energy forum takes place outside the headquarters of the UN. [CFP]

At the World Energy Forum 2012 in Dubai, which ended Wednesday, the host country United Arab Emirates (UAE) aimed to present itself to the global community as an oil-state on the way to a new energy-mix model, albeit huge challenges.

The three-day forum, which was held for the first time outside the United Nations headquarters at New York, dealt with the challenges of how the world can tackle growing energy demand and how to reduce global warming.

The UAE used the platform to present its current projects in the field of solar, green and nuclear energy to the over 2,000 delegates from more than 100 countries. However, UAE officials refrained from unveiling new mega-projects.

In his opening speech on Monday, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, said that "although the UAE is an oil exporting nation, it seeks seriously to reduce the causes of climate change and to achieve a sustainable energy equation in diversifying the sources of generating power."

The UAE currently satisfies 99 percent of its domestic electricity consumption from oil and gas sources, according to the Dubai Electricity and Water Authority (DEWA). Until 2020, the UAE government targets a 7-percent green energy share of the country's total energy consumption, while 12 percent shall come from nuclear energy.

Its fast growing population, which doubled to the current 8.5 million within five years, put the UAE under pressure to find new ways of satisfying the growing demand for power.


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