GE highlights PPP role in green energy
Dubai, October 29, 2013
GE will underline the importance of public private partnerships (PPPs) to steer sustainable energy projects at the ongoing sixth annual Conference of the Arab Forum for Environment & Development (AFED) in Sharjah.
GE will also highlight the added value of its ecomagination initiative in enabling communities to promote sustainable growth at the AFED Conference, which is concluding today (October 29) at the American University of Sharjah. The theme of the event is ‘Arab Environment’.
Nabil Habayeb, GE’s president & chief executive officer for the Mena and Turkey said: “While regional governments have demonstrated their resolve to promote sustainability, they are often constrained for funds to invest in renewable energy projects, which are an important part of the energy mix. Developing sustainable energy projects calls for a strong and committed financing model that can operate viably only through public private partnerships.”
“The benefits of this approach are tremendous: An effective financing model for the sustainable energy sector can catalyze job creation for the region’s youth. It will also assure energy security that is vital to drive the small and medium enterprises sector. A focus on sustainable energy will also address the concerns relating to climate change.
“GE has demonstrated the strength of PPPs in operating renewable energy projects and smart grids through our ecomagination initiative, commitment to innovate pioneering technologies that help customers address environmental and financial needs,” he added.
GE supports the region’s sustainable growth and strengthens energy efficiency through a two-pronged strategy of sharing knowledge and skills, and promoting the use of ecomagination products, and driving a culture of localized innovation led by the creative young minds to co-create solutions for the future.
Launched in 2005, ecomagination is the way GE works, helping customers save billions of dollars and significantly reducing their environmental impact. With cumulative R&D spend of $6 billion targeting $10 billion by 2015, GE’s ecomagination portfolio has exceeded targets, growing at 14 per cent CAGR, a statement said.
Exceeding its environmental footprint targets of 25 per cent, GE has reduced greenhouse gas emissions and water use by 33 per cent and 46 per cent respectively, and generated cumulative operational savings of $275 million since 2005, according to the statement.
This year’s session of AEFD also includes special sessions including a ‘Future Leaders Forum’ where Arab youth will discuss the right of future generations to resources; examples of sustainable energy initiatives in the GCC region; and challenges and opportunities in waste-to-energy. – TradeArabia News Service