Investments In Clean Energy Can Play Critical Role in Economic Development

Investments In Clean Energy

Investments In Clean Energy. ( Solar Thermal Magazine )
Masdar to Highlight Shams 1’s Contribution to Western Region Development, at Second Annual Al Gharbia Development Forum

Abu Dhabi, UAE – May, 2014: Investments in clean energy can play a critical role in driving economic growth in Abu Dhabi’s Western Region, home to Masdar’s Shams 1 concentrated solar plant, according to Yousif Al Ali, General Manager of the Shams Power Company.

Also known as Al Gharbia, the emirate’s Western Region is the heart of the UAE’s hydrocarbon industry. But, according to Al Ali, it has huge potential for the generation of clean energy.

“Shams 1 is an example of the significant investment opportunities in clean energy that exist in the area, which in turn would help stimulate the region’s wider economic and social development. With 365 days of sunshine, and large tracts of land available, Al Gharbia is a natural location for large scale solar energy projects,” said Al Ali.

Shams 1 has been a big success, since it began producing electricity in 2013. The plant has consistently performed to its design parameters, delivering electricity to 20,000 UAE homes, displacing 175,000 tons of CO2 per year.

Abu Dhabi’s Western Region comprises 83 per cent of Abu Dhabi’s land mass, but it is home to less than 10 per cent of the emirate’s population. It is rich in hydrocarbons and has a mix of traditional industries including agriculture, fishing and tourism. As part of the Abu Dhabi 2030 Plan, annual revenues from the region are forecast to top AED 400 billion (US$100 billion), according to the official Al Gharbia website.

Al Ali was speaking on the eve of the second annual Al Gharbia Development Forum, organized by MEED, which will take place on May 20, at the St. Regis Hotel on Saadiyat Island, Abu Dhabi. Al Ali will give Forum delegates insights into how energy companies, such as Masdar, can help ensure economic growth that is environmentally responsible and socially sustainable.

Abdulaziz Al Obaidli, Process Engineer at Shams Power, will also give a presentation about Shams 1, a 100MW power plant located outside the city of Madinat Zayed, 170 miles southwest of Abu Dhabi. The presentation will focus on Sham’s 1’s contribution to the economic and social growth of the Western Region.

With 300 senior delegates from Abu Dhabi, the UAE, the Middle East and global businesses, the Al Gharbia Development Forum will bring together investors, business leaders and government officials to discuss the economic challenges facing the region and find sustainable solutions to those issues.

The $600 million Shams 1 concentrated solar plant, the largest renewable energy project in the Middle East, is a partnership between Masdar, Total and Abengoa.

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This post was prepared by Solar Thermal Magazine staff.