Chinese Premier Wen Jiabao will be attending the 5th annual World Future Energy Summit (WFES) that will be held in Abu Dhabi, UAE, from January 16th – 19th at the Abu Dhabi National Exhibition Centre.
Regarded as the leading figure responsible for China’s economic policy, which embraces innovation, sustainable redevelopment and renewable energy as core drivers, Premier Wen will deliver the keynote speech at WFES.
The visit by the Premier underscores the growing role the UAE and Abu Dhabi are playing in promoting innovation and investment opportunities in renewable energy and clean technologies.
“From accelerating the deployment of renewable energy to diversifying the energy mix, the UAE shares a lot in common with China,” said Dr. Sultan Al Jaber, CEO of Masdar, Abu Dhabi’s renewable energy company.
“China has emerged as a renewable energy super power, redefining the global industry by increasing both the supply and demand for new energy sources,” added Dr. Al Jaber. “World leaders recognize that to have a genuine conversation about renewable energy today – big players like China must be involved. We are honored to host Premier Wen and welcome his participation during WFES.”
Premier Wen has pledged that China will reduce the carbon intensity of its economy by 17% by 2015 (per unit GDP).
China is also making major investments in grid transmission to overcome capacity constraints and to allow energy rich regions to export power to energy poor regions of China. The five year plan also provides incentives for hybrid and electric vehicles, charging infrastructure and high speed rail.
China and the UAE have a strong and growing relationship.
The UAE has expanded bilateral trade, strengthened two-way investment and increased cooperation on infrastructure construction and the development of renewable energy. Masdar Capital has already invested USD 25 million into UPCC, a major Chinese wind developer.
Ambassador of China to the UAE His Excellency Gao Yusheng said, “The UAE has traditionally been a gateway for Chinese businesses serving the Middle East and now Abu Dhabi is paving the way for our involvement in both the region’s emerging renewable energy industry and the industry globally. Abu Dhabi has shown great initiative in the clean and renewable energy sector through Masdar and the World Future Energy Summit, and we are eager to expand our partnership with the UAE in this critical field.”
Bilateral trade between the UAE and China exceeds USD 25 billion.Leading Chinese business will also be participating at WFES.
In addition to Premier Wen’s visit, more than 43 Chinese exhibitors will be attending WFES 2012, and for the first time, host a national pavilion to highlight the country’s rapidly expanding renewable energy market.
Rushika Bhatia Editor
Rushika Bhatia is one of the region’s leading commentators on business and current affairs issues. She is the Editor of SME Advisor magazine - the flagship title of CPI Business. She is passionate about infographics – with special emphasis on data, research and statistics. Rushika has a Bachelor’s Degree from Indiana University, USA and is also CIMA qualified.