(EnergyAsia, December 27 2011, Tuesday) — Chinese Premier Wen Jiabao will deliver the keynote speech at the 5th annual World Future Energy Summit (WFES) at the Abu Dhabi National Exhibition Centre in the UAE from January 16 to 19.
Premier Wen is expected to touch on the topics of innovation, sustainable development and renewable energy in his speech, according to organisers Masdar.
It said the visit by the Premier of the world’s second largest economy underscores the growing role the UAE and Abu Dhabi are playing in promoting innovation and investment opportunities in renewable energy and clean technologies.
Premier Wen has pledged that 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 its 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.
According to Masdar, 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.
The government is also making major investments in grid transmission to overcome capacity constraints and to allow energy-rich regions within the country to export power to energy-poor regions. The five-year plan also provides incentives for hybrid and electric vehicles, charging infrastructure and high speed rail.
“From accelerating the deployment of renewable energy to diversifying the energy mix, the UAE shares a lot in common with China,” said 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. World leaders recognise that to have a genuine conversation about renewable energy today – big players like China must be involved.”
Masdar City, Abu Dhabi’s own vision for a low-carbon, low-waste sustainable city, China is building high-tech, green cities to test nascent clean and renewable energy technologies.
“Premier Wen will provide WFES participants with firsthand insight into China’s cutting-edge economic strategy and its vision for adopting clean technology and renewable energy,” said Dr Al Jaber.
China and the UAE are expanding bilateral trade now valued at US$25 billion, two-way investment and cooperation on infrastructure construction and the development of renewable energy. Masdar Capital has invested US$25 million in UPCC, a major Chinese wind developer.
Along with Premier Wen’s presence, 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.
Among those present are Shi Zhengrong, CEO of the world’s largest solar panel maker Suntech Power, and Jifan Gao, Chairman and CEO of PV technology leader Trina Solar.
Now in its fifth year, WFES is the world’s foremost annual meeting committed to promoting advancement of renewable energy, energy efficiency, and the water and waste sectors by engaging political, business, finance, academic and industry leaders to drive innovation, business and investment opportunities in response to the growing need for sustainable energy.
More than 26,000 attendees, including 3,000 delegates, 650 exhibiting companies and 20 national pavilions, are expected to participate in the summit.