The UAE Foreign Minister HH Sheikh Abdullah Bin Zayed Al Nahyan signed the agreement during the founding conference in Bonn, Germany.
Addressing the conference Sheikh Abdullah stressed that Abu Dhabi is considered an ideal place to host the headquarters of the International Renewable Energy Agency (IRENA) in view of the fact that the Masdar City in Abu Dhabi enjoys all the necessary capabilities to be home for such an Agency.
The following is the full text of the speech by HH Sheikh Abdullah Bin Zayed Al Nahyan, UAE Foreign Minister: Your Excellencies, Ministers, Members of Parliament, Distinguished Guests, Ladies and Gentlemen.
We commend the German, Spanish and Danish leadership for developing the idea of establishing IRENA. Their leadership is an example to us all.
Your Excellencies, Ladies and Gentlemen.
Today is an important day. It is important because the world needs an Institution such as IRENA. It is important that the global community works together to develop a consistent set of policies and frameworks that will encourage growth and rapid deployment on a large scale.
In the UAE, and as an important oil producer with the fifth largest proven oil reserves in the Middle East, we also believe on the importance of energy as a main driver for our economic growth and sustainable living.
UAE trust that renewable energy is crucial to the world’s future prosperity. We believe it is a key foundation for the future economic, environmental and social success for our nation.
Not only is it a foundation for our future, we also believe we can draw from our past through our deep energy expertise. This combination of the past and the present is why we have begun to take significant strategic steps forward to accelerate renewable energy.
We stepped forward in the fields of environmental protection and energy conservation since the establishment of UAE through out the various initiatives. Last week, Abu Dhabi, the capital of the UAE, announced a 7% renewable energy target of total energy generation capacity during the World future Energy Summit.
Alongside the target, Abu Dhabi for the past two and a half years has developed the Masdar Initiative.
Masdar is a highly strategic initiative that aims to diversify our economy and accelerate the development and deployment of renewable energy in Abu Dhabi and globally.
Masdar focuses on the complete value chain of the renewable energy sector. Its remit is to drive research and development, invest in the most promising technologies, develop and deploy large scale renewable energy projects, advocate and demonstrate the path towards a low carbon economy, and nurture sustainable human development.
Masdar’s activities will be driven from the world’s first carbon neutral, zero waste City, a silicon valley for renewable energy. Masdar city will be the global home of Renewable Energy.
And we are not only doing this in Abu Dhabi. We have projects, partnerships and investments in Germany, Spain, Finland, United Kingdom, Japan, Nigeria, Seychelles, Australia, United States, Bahrain, and many others Last week we awarded the first Zayed Future Energy Prize which aims to recognize and honour individuals and organisations for their excellence in the innovation, development and implementation of renewable energy solutions.
