Europe's Energy Future - Charting the Path Ahead
The second annual European
Future Energy Forum (EFEF) began in London today and despite the
general optimism associated with the growth of the renewable energy
sector, many challenges lie ahead for business leaders and policy
makers.
Political difficulties are standing in the way of a
continent-wide European
energy policy being agreed, noted
David Howell, the British Commonwealth minister, who stated a
European
energy policy “would be nice, but
it’s not going to happen”.
Mr. Howell explained that each country will have to
come up with their own policies to move forward with the usage
of
renewable energy. Time magazine
reports that he also appeared to be concerned about the rising
costs being passed onto consumers.
Addressing the
renewable energy industry at the
Forum, he said: “You boys have got to get your costs
down.”
Cost control and competition was a theme echoed in the
remarks of Thomas Dalsgaard, head of Group Regulatory Affairs at
DONG Energy, who called upon ambitious countries to compete to be
the front-runners of an industrialized renewable energy business,
during a panel debate at the Forum.
“It will be the most ambitious countries that will host
the industrialization of the renewable sector. There is very solid
momentum in the industry and strong competition amongst the
suppliers of renewable energy. And there will be equal competition
between countries to be the champions of the renewable industry,”
he said.
One of the champions of the renewable energy sector
could be Abu Dhabi.
Dr. Sultan Al Jaber, CEO and Managing Director of
Masdar, said during his opening address “Abu Dhabi strives to be a
catalyst for greater international dialogue and collaboration -
both public and private - to maximize the effectiveness of the
world’s response to the challenges of energy security and climate
change.”
But the renewable energy and clean technology solutions
the world needs today will not be driven by one country alone, he
added. “They will be found across borders and built between
nations. They will be stimulated by collaboration and founded on
public-private partnerships.”
Masdar is also keen be an investment financing source
for many of these partnerships. “We want to be a provider of
capital to the most interesting cleantech companies in the UK and
in Europe” said Alexander O’Cinneide, Head of Masdar
Capital.
The EFEF forum, which runs from October 19-21, was
developed by Masdar, a wholly-owned subsidiary of the Mubadala
Development Company, to provide an open global platform for
collaboration and dialogue. EFEF is also sponsored by the UK
government’s international trade promotion arm, UK Trade and
Investment.
The forum brings together
the renewable energy and clean technology industry to explore
business opportunities, showcase the latest technological solutions
and create an environment for discussion among business leaders,
industry experts, academics and policy makers.
Other prominent figures
addressing the forum included, His Royal Highness Prince Charles,
the Prince of Wales, who noted in a written statement
that “the challenge of developing and deploying clean
technologies is global and will not be met without co-operation and
knowledge sharing. This is well understood by Masdar, which
has reached out to the whole world in its active
pursuit of clean energy technologies -
including by taking a 20% stake in the London Array offshore wind
project.”
The Prince’s comments
were echoed by British Prime Minister David Cameron, who praised
Masdar and the UAE government for its role in creating the annual
event that fosters collaboration and dialogue among renewable
energy business leaders, industry experts, academics and
policymakers.
More information on the
Forum is available
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