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Press Release22 October 2020Siemens EnergyDubai
Siemens Energy MEA Energy Week virtual conference reveals 10 priorities for successful energy transformation pathway
Advancing the decarbonized
energy transformation and fostering an ecosystem of collaboration and
co-creation between stakeholders can help meet the world’s sustainability
goals, while boosting economic growth, creating new jobs and industries, and
improving human welfare by 2050.
“The balance of fossil fuels and renewable energy sources is shifting towards a decarbonized portfolio and around 850 million people are still living without access to electricity when according to studies, global demand for energy could even increase by around 25% by 2040. So the question is how to bridge into an affordable, reliable and sustainable power supply, while improving energy access,” said Christian Bruch, President and CEO, Siemens Energy.
The ten key
elements, emerged from the virtual event, build a flexible framework for innovation,
broadly suitable to enable decarbonization of the energy sector. They also act
as guiding principles for governments, companies, and society to strike the
balance between energy security and the transition to a lower carbon future:
1. Access to stable, affordable, and sustainable energy supply is a basic human right
“Renewables can
improve human welfare in a way not captured by statistics. They can promote
social justice, local empowerment and wealth generation, equality and
educational opportunities,” Dr. Raja Al Gurg Managing Director, Easa Saleh Al
Gurg Group
2. Availability of sustainable energy is the foundation for long-term economic prosperity
“Quite simply
access to energy gives everyone the opportunity to fulfill their complete and
full potential. We take for granted we are all fortunate to have access to
reliable energy, to power our lives, from better healthcare and education,
clean, prosperous job growth, to sustainable cooling and food security. Access
to sustainable clean energy is the key that can help unlock a prosperous future
for billions of people.” Damilola Ogunbiyi, CEO and Special Representation of
the UN Secretary-General for Sustainable Energy for all (SEforALL)
3. Bespoke national energy roadmaps are vital to effectively realize the energy transition
“The UAE Energy
Strategy 2050 aims to increase the contribution of clean energy in the total
energy mix from 25 percent to 50 percent by 2050 and reduce the carbon
footprint of power generation by 70 percent. The UAE is working also to
diversify the energy mix through combining renewable, nuclear and clean energy
sources to meet the country’s economic requirements.” - H.E. Sharif Al Olama,
Undersecretary of the Ministry of Energy & Industry, UAE
4. Leverage the individual strengths and power of multilateral relationships to accelerate the pace of the energy transition
“As renewables
have become cheaper and more versatile, they have found their way into more
solutions. We see today electric mobility picking up globally. Energy storage,
building infrastructure, they are also making other technologies more viable.”
Mohamed Jameel Al Ramahi, CEO, Masdar
5. Utilizing highly efficient existing technology is paramount to bridge to a zero-carbon world
“The UAE is
working also to diversify the energy mix through combining renewable, nuclear
and clean energy sources to meet the country’s economic requirements. Though
the world relies on energy from hydrocarbon sources, there has been a move to
greener and more innovative energy sources. There is a conviction that
diversification is key.” H.E. Reem Al Hashimy, Minister of State for
International Cooperation, UAE
6. The energy system will transform into one integrated ecosystem for all new clean technologies
“Hydrogen allows
low carbon energy to move from electricity to many other sectors, including
sectors that are hard to decarbonize. Renewables have traditionally been
constrained to one geography. We can now integrate renewable energy systems and
conventional hydrocarbon systems – a circular carbon economy concept.” Ahmad Al
Khowaiter, CTO, Saudi Aramco
7. Highly flexible and reliable transmission and distribution networks will be the intelligent backbone of a de-carbonized energy system
“We are working
hard to prepare grid networks to meet the Kingdom of Saudi Arabia’s ambitious
targets of generating 30 gigawatts of renewable energy by 2025 and 60 gigawatts
by 2030.” Ibrahim Al Jarbou, CEO, National Grid Saudi Arabia
8. Access to capital at reasonable costs will play a critical role in the energy transition
“I think we see
some ambitious energy transition agendas in the Middle East and Africa. I think
there are ambitious agendas which will make things happen. From our perspective
as an ECA
[Export Credit Agency], the agenda of the region
fits in with Germany. I believe we will see more projects in the region in the
coming years and hopefully we will be able to support those.” Edna Schöne,
Member of the Board, Euler Hermes
9. Collaboration of strong partners will solve the challenges in financing the energy transition
"Capital
markets can reward companies that are taking green technology into
consideration, and that can be done through investing in these companies, or
even creating a stock exchange that rewards companies that are proactively
adopting an
ESG [Environmental, Social, Governance]
agenda, or a sustainable agenda in the way that they do business.” Badr
Al-Olama, Executive Director, Aerospace at Mubadala; Head of Organizing
Committee, GMIS
10. Now is the time to act, 2020 marks the year of change in many aspects
“We have a
unique opportunity to fast track the energy transition. Covid-19 has
dramatically impacted economies around the world. Effort and capital is being
directed towards a fast recovery. Uniting, and focusing our efforts, will
enable developing and developed countries alike to advance to a prosperous and
zero carbon future extremely quickly. Dietmar Siersdorfer, Managing Director,
Siemens Energy Middle East and UAE
The event was
held in partnership with the Association of German Chambers of Industry and
Commerce (DIHK); the Arab-German Chamber of Commerce and Industry (Ghorfa); the
Global Manufacturing and Industrialization Summit (GMIS); and Masdar, a global
leader in renewable energy and sustainable urban development, and wholly-owned
subsidiary of the Abu Dhabi government’s Mubadala Investment Company.
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs 91,000 people worldwide in more than 90 countries and generated revenue of around €29 billion in fiscal year 2019.
www.siemens-energy.com.
www.siemens-energy.com.
Contact
Iain Packham
Siemens Energy
Sheikh
Zayed Road
Dubai
United Arab Emirates
Dubai
United Arab Emirates
+971 549934561