[ad_1]
DUBAI – ACWA Power, a world leader in water desalination and power generation, has successfully closed its presence at the 12th World Future Energy Summit (WFES), which has held January 14-17, 2019 as part of Abu Dhabi Sustainable Development Week. (ADSW).
ACWA Power has strengthened its position as the leading sustainable development driver in the region through its participation as WFES and its industry partners to underscore its commitment to produce electricity and energy. Water desalinated efficiently, reliably and safely, at an affordable cost. ACWA Power continuously supports the vision and foresight of the United Arab Emirates by bringing together key players from around the world to raise public awareness, stimulate debate and catalyze actions that can contribute to creating a sustainable future, safe and prosperous.
This four-day event, focused on renewable energies, was an opportunity for ACWA Power to participate in several high-level round tables, where discussions on a sustainable financial economy and strategic solutions to solve global challenges in energy and water were discussed.
Paddy Padmanathan, President and CEO of ACWA Power, revealed that ACWA Power plans to expand to 25 countries by 2025 and aims to double its water desalination capacity and production capacity. energy in 20 countries. the next five years with investments estimated at $ 35 billion.
Comparing the costs of renewable energies to traditional energy sources, Padmanathan said, "Electricity has always been driven by fossil fuels. Although fluctuating constantly, 75% of the cost of producing electricity comes from fossil fuels. "
"For the first time, we have the ability to use the power of the sun and the wind without gas costs or price fluctuations. As a result, we are able to generate electricity and set prices for the next 25 to 35 years by spending the money initially and recovering it in overtime. Fixed costs play an extremely important role in the future of renewable energy deployment. Renewable energy remains the most competitive form of electricity generation in the GCC due to reduced costs; economic diversification to meet demand; and the region's commitment to diversify its energy sources. "
Building on its commitment to providing electricity and water to the region and its contribution to the 2030 Saudi Vision, ACWA Power also highlighted its growing efforts in the Kingdom to use renewable energy as the primary resource to generate energy and facilitate the entry of local investors. and developers in the Saudi market to trigger the growth of renewable energy.
Ishaq Al Hammadi, Director General, United Arab Emirates, and Abdelhameed AlMuhaidib, Executive Director General of Noor Energy 1, escorted by Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources, and Mohammed Al Tuwaijri, Minister of Economy and Planning Saudi Arabia visits the pavilion of ACWA Power and Saudi Arabia to present sustainable national efforts. – SG
[ad_2]
Source link
