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DEWA CEO at World Government Summit highlights challenges and opportunities of global energy transition

Saeed Mohammed Al Tayer, the MD & CEO of Dubai Electricity and Water Authority (DEWA), delivered a compelling keynote speech at the World Governments Summit 2024, shedding light on the transformative impact of the transition to renewable energy on global power dynamics. The summit, themed ‘Shaping Future Governments,’ convened international thought leaders, experts, and decision-makers to explore tools, policies, and models crucial for shaping the governments of the future.


Al Tayer underscored the visionary leadership of the UAE, emphasizing the commitment to anticipating the future through strategic planning, particularly in pioneering the global energy transition. He highlighted the importance of increasing the share of clean and renewable energy to combat climate change and reduce costs, positioning the UAE as a leader in various fields.


Addressing challenges, Al Tayer acknowledged the increasing focus on decarbonization, climate action, and ambitious targets for renewable energy. He stressed the need to turn challenges into opportunities for a greener transition and sustainable development, considering environmental, geopolitical, and technological factors. The Russia-Ukraine war’s impact on energy markets and the subsequent search for alternative energy sources in Europe were also discussed.


Al Tayer delved into the reshaping global power dynamics through the transition to renewable energy, emphasizing the strategic importance of countries rich in solar and wind resources. He highlighted the crucial role of energy storage solutions, such as advances in battery technologies, pumped-storage hydroelectric plants, and grid-scale energy storage, in enabling the integration of renewable energy into the grid.


The Net-Zero by 2050 scenario, outlined in the World Energy Outlook 2023 by the International Energy Agency (IEA), was discussed, projecting a significant reduction in oil, natural gas, and coal prices by 2030 and 2050. Al Tayer highlighted the constant decline in the cost of solar energy and storage technologies globally, with forecasts indicating substantial increases in production and storage capacity by 2030.


Emphasizing the importance of green hydrogen, Al Tayer highlighted its potential in decarbonizing various sectors and described it as the fuel of the future. The discussion touched on the advancements in storage technologies for ensuring the continuous availability of green hydrogen, with projections indicating substantial growth in global production capacity by 2030.


Addressing nuclear fusion as a promising source of clean and unlimited energy, Al Tayer acknowledged the ongoing research and development efforts in enhancing safety, radioactive waste disposal management, and cost-effectiveness.


Al Tayer concluded by highlighting the UAE’s commitment to sustainability, with 2024 declared the Year of Sustainability. DEWA’s role as the ‘Sustainable Energy Partner’ at the summit was emphasized, showcasing globally pioneering green projects, including the Mohammed bin Rashid Al Maktoum Solar Park and green hydrogen production initiatives. The CEO reiterated DEWA’s commitment to a sustainable future, with achievements in reducing network losses and advancing in key performance indicators globally.


In the journey toward sustainability, Al Tayer echoed the UAE’s focus on harnessing efforts, minds, resources, and capabilities to build a future that aligns with the nation’s vision. The CEO acknowledged the evolving nature of future expectations but emphasized humanity’s unwavering hope for cooperative efforts to address challenges and risks, ensuring sustainable prosperity for current and future generations.

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