Renewable Energy in Abu Dhabi
Abu Dhabi -- United Arab Emirates It's no secret that oil rich Abu Dhabi sees renewable energy as the theme for the next chapter of its place in history. The emirate already has invested billions of dollars to pave the way to this new economy. It has taken stakes in many wind and solar power energy projects, started its own solar panel manufacturing business and put money in other solar panel manufacturers in Europe, United States and Asia. It also has formed partnerships with multinational energy, automotive and information technology giants and begun building a city from scratch to showcase low-carbon technologies.
Its foray into this new venture has just started, and already its leaders are discovering that making the transition from a fossil-fuel based economy isn’t easy, given the resources they are pursuing aren’t simply buried underneath their soil.
Four years after Abu Dhabi started down this path, its officials have had to redraw their master plan for the brand new Masdar City, whose build out has been significantly delayed. They have scrapped a plan to build a solar panel factory in Abu Dhabi. They also raised a second venture capital fund and saw opportunities in countries with clearer national renewable energy policy, such as China.
Abu Dhabi’s ambition has received at least good publicity if not admiration from political leaders and companies that see good business opportunities. It also has no shortage of skeptics who question whether the emirate is setting unrealistic goals and lacks the ability to reach them.
Emirate officials they have modified their ambitions to reflect the lessons they’ve learned. These changes will still enable them to reach their broader goals of becoming a cleantech hub and a seller of renewable energy.
“It’s not fair to say what was decided in 2006 will be held forever,” said Dale Rollins, chief operating officer of Masdar, the company created to oversee Abu Dhabi’s transition into renewable energy.
“Given the technology and market, the (initial plan) seemed like a good idea. The technology has moved on and the market has moved on. We say we can do it better and we can do it in less expensive ways,” said Rollins at a press conference at the World Future Energy Summit hosted by the Abu Dhabi government last week..........read full article
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