Masdar to Bring WFES Experience to Asia Future Energy Forum in Singapore

Abu Dhabi’s multi-faceted renewable energy company, and Reed Exhibitions today announced their plans to hold the ‘Asia Future Energy Forum & Exhibition’ (AFEF), as part of the annual Singapore’s International Energy Week (SIEW), which will be held from 22-25 October 2012, organized by the Energy Market Authority of Singapore.

AFEF 2012, “Powering Sustainable Innovation in Asia”, will discuss energy related issues, challenges and opportunities in Asia. AFEF will be the marketplace for the clean, alternative energy suppliers to meet buyers from Asia. It will also be an opportunity to showcase Masdar’s multi-faceted approach towards the acceleration, development and deployment of renewable energy and clean technologies.

With its exemplary track record in hosting global platforms such as the World Future Energy Summit, Masdar will support and participate in AFEF to drive debate, promote knowledge sharing and strengthen collaborations.

Speaking on the collaboration, Dr. Sultan Ahmed Al Jaber, Chief Executive Officer of Masdar, said: “Asia has emerged as a major player in the renewable energy sector. This is also signified by the strong Asian presence at the ongoing World Future Energy Summit this year. Over the past three years, Masdar has been organizing the European Future Energy Forum in Spain, UK and Switzerland. Now, with the emergence of Asia as a key partner in the renewable energy and clean technology industry moving forward, it only made sense that we place a targeted focus on Asia in 2012. This move is a testament to Masdar’s agility in meeting the fast changing market needs in addition to Abu Dhabi’s capability of exporting knowledge and expertise in the strategic energy sector. The decision to hold the event in Singapore, one of the UAE’s most valued partners in Asia, is a great source of pride.

“We are honored with these partnerships and will always continue looking for opportunities across Asia, as part of the UAE’s initiative to build bridges and find the energy solutions of tomorrow,” added Dr. Al Jaber.

Mr Chee Hong Tat, Chief Executive of the Energy Market Authority, said: “Asia’s energy demand is expected to double over the next 20 years, and renewable energy sources will play a bigger role in the overall energy mix of many Asian countries. The Energy Market Authority is very happy to have the Asian Future Energy Forum & Exhibition (AFEF) as one of the anchor events of the Singapore International Energy Week (SIEW). AFEF will complement the other SIEW events in shaping Asia’s energy future.”

According to the International Energy Outlook 2011 report, renewable energy use will rise from 10% in 2008 to 15% in 2035. Asia is expected to play a major role in achieving these targets.

Singapore has demonstrated a strong commitment to the renewable energy sector. The Singapore Economic Development Board reported that by 2015, the clean energy industry is expected to contribute US$1.3 billion to Singapore’s gross domestic product and create 7,000 jobs across a broad range of areas, including solar power, fuel cells, wind power, energy efficiency and carbon services. Back in 2007, the Singapore government announced a total package of US$271 million for the clean energy industry, designed to intensify innovative research and development, and capability development for this industry. In addition, the UAE and Singapore have strong partnerships and are already members of the Green Group, a Ministerial level group which focuses on water and energy security along with other like-minded nations such as Cape Verde, Costa Rica, Iceland, New Zealand and Slovenia.

Masdar’s partnerships in Asia extend beyond Singapore. A transformational player in Asia’s clean energy space is China, which recently became the world’s top energy producer, and is expected to use 68 per cent more energy than the US by 2035. While renewable energy is projected to be the fastest growing source of primary energy over the next 25 years, fossil fuels are expected to maintain their grip as the dominant source of energy.

China will reduce the carbon intensity of its economy by 17% by 2015 (per unit GDP). Under its 12th Five Year Plan for National Economic and Social Development, China will generate 11.4% of energy from non-fossil fuels by 2015, and 15% by 2020, up from 8.3% in 2010. To reach this ambitious goal, China has introduced a range of regulatory and financial incentives, including feed-in tariffs, subsidies, China Development Bank loans, and US$200 billion in stimulus funding for cleantech, carbon emission reductions and energy pricing reserves. China is poised to spend US$473.1 billion on clean energy investments in the next five years and will add 370 GW of renewable energy generation capacity by 2020.

Masdar Capital is involved in the Chinese clean tech market and has already invested $15 million into UPCC, a major Chinese wind developer. In addition, 50% of the panels in Masdar City’s 10MW solar energy plant are provided by Chinese manufacturer Suntech.

Another significant player in Asia is Japan, which has recently passed a bill to promote investment in solar energy, wind power and other renewable energy sources and is already discussing easing rules on building geothermal, wind and hydraulic power plants to renewable energy use, as reported by the Nikkei Business Daily. Japan has the potential to generate nearly 40% of its electricity requirements from solar energy, wind energy and geothermal energy, according to estimates prepared for the government’s Energy and Environment Council.

Masdar has forged strong partnerships with Japan, another major player in the renewable energy market. Masdar Institute partnered with Japan’s Cosmo Oil Company and the Tokyo Institute of Technology on the Beam Down Project – a joint pilot project in Masdar City to test the conventional Concentrating Solar Power (CSP) design.

Mr. Frederic Theux, President of Reed Exhibitions Middle East, commented: “As one of the leading lights of clean and sustainable development in the Middle East, Masdar has played a significant role in transforming the World Future Energy Summit into one of the world’s leading platforms dedicated to the global renewable energy community in less than five years. Having successfully secured attendance and commitments from world leaders driving innovation, trade and investment opportunities in the renewable energy universe, Reed Exhibitions believes we are well placed to develop AFEF into a similar platform alongside SIEW to support the growing demand from Asia. We are pleased to share our knowledge and experiences with our team in Singapore in partnership with the Energy Market Authority to deliver a successful event.”

Ms Michelle Lim, Managing Director of Reed Exhibitions in Singapore, remarked, “Asia’s growing economies will continue to face increasing demands for energy. It is widely regarded that only relying on traditional fossil energy to fuel economic development is highly unsustainable. There is therefore a compelling need for an event like AFEF as a marketplace for alternative, clean energy solutions. By modeling after the successful WFES through close partnership with EMA, and its highly successful SIEW, AFEF aims not only to enable the trading and sourcing of renewable energy products and services, AFEF will also serve as platform for networking and knowledge-sharing for the Asian community.”