COP28 a significant step towards future of clean, renewable energy

ABU DHABI - The UAE has further solidified its prominent standing within the renewable energy sector, underscoring its active role in propelling global growth through heightened investments in sustainable energy initiatives.

To date, the UAE has committed more than $50 billion to renewable energy projects across 70 nations, with plans to infuse an additional $50 billion into these initiatives over the next decade.

The UAE is gearing up to host the 28th Conference of the Parties (COP28) from 30th November to 12th December 2023. This prestigious gathering marks a pivotal shift towards a fresh paradigm of climate action, emphasising the importance of collaboration, international partnerships, and collective endeavours in tackling the repercussions of climate change.

COP28 serves as a cornerstone in the journey toward a future dominated by clean and sustainable energy, specifically focusing on spotlighting the UAE's transformative projects and investments. These endeavours have left a resounding local and global imprint, aligning with the country's unwavering commitment to assisting nations in establishing vital sustainable projects rooted in clean energy solutions.

With a remarkable track record spanning over 17 years, the UAE stands as one of the pioneering nations in the region to embrace renewable energy solutions and actively foster their proliferation. It is the first country in the Middle East and North Africa to launch a strategic initiative aimed at achieving climate neutrality by 2050.

Since its inception in 2006, the Abu Dhabi Future Energy Company (Masdar) has emerged as an exemplary model and a significant contributor to mitigating the adverse effects of climate change and greenhouse gas emissions. Masdar has channelled over $30 billion into sustainable projects, successfully deploying innovative technologies designed to advance sustainability objectives globally.

The company has witnessed a remarkable surge in the production capacity of its clean energy portfolio, surpassing 20 gigawatts (GW). These projects, spread across more than 40 countries, have helped prevent the release of some 30 million tonnes of carbon dioxide annually, equivalent to removing 6.5 million cars from the roads.

In January 2020, Masdar made its first investment in Australia after acquiring a stake in the country's second utility-scale waste-to-energy (WTE) facility, East Rockingham Waste to Energy.

Collaborating with Tribe Infrastructure Group, a prominent consultancy and development firm, Masdar formed a joint holding company known as Masdar Tribe Energy Holdings Limited. Headquartered in the Abu Dhabi Global Market, this entity secured a 40 percent stake in the East Rockingham Waste to Energy.

The financial closure of this station was successfully executed with a total valuation of AUD511 million. Situated in the Rockingham Industrial Area, approximately 40 kilometres south of Perth in Western Australia, the facility can process around 300,000 tonnes of municipal, commercial, and industrial waste annually and handle up to 30,000 tonnes of solid organic materials.

Furthermore, the station efficiently processes nearly 70,000 tonnes of ash generated from waste incineration, repurposing it in road pavement foundations and other construction materials. The facility generates 29 megawatts (MW) of core renewable energy, sufficient to power over 36,000 homes while mitigating over 300,000 tonnes of carbon dioxide emissions annually.

The establishment of this pioneering facility underscores the ongoing commitment to addressing the global challenge posed by daily waste production, with over two billion tonnes of solid municipal waste generated worldwide each year. Simultaneously, it underscores a proactive approach to developing sustainable waste-to-energy resources and managing solid municipal waste. This is particularly pertinent given the anticipated long-term returns within Australia's burgeoning waste-to-energy sector.





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