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IRENA events at the World Future Energy Summit (WFES)

19-21 January 2015 | Abu Dhabi, United Arab Emirates (UAE)

Daily Web Coverage

Coverage on Wednesday, 21 January 2015

A view of the exhibition hall at the World Future Energy Summit (WFES)

On Wednesday, 21 January 2015, participants at the World Future Energy Summit (WFES) attended a number of IRENA events including, “Financial instruments and approaches to address the risks and barriers of investing in renewable energy - practical ways toward implementation”, “Evaluating renewable energy manufacturing potential in the Mediterranean partner countries” and “Renewables Readiness Assessment (RRA): analyzing impacts & readiness for investment in sustainable energy”.

During the session on financial instruments, Aleski Lumijärvy, IRENA, presented findings from IRENA’s analysis on risks and barriers of investing in renewable energy and the effective utilization of risk mitigation instruments. He noted that most risk mitigation instruments are underutilized due to a lack of user demand. Key findings in the analysis, he said, include the need to address: elevated investment risks in developing countries; tailored risk instruments; and liquidity risks. During the following discussion, participants addressed the need to reconcile cultural differences between investors and developers and underlined the importance to IRENA of building ties with the private sector. They also discussed the appropriate roles of the public and private sectors, the challenge of scaling up risk mitigation instruments and the need for conventional power to reflect its true costs.

In the session on evaluating renewable energy manufacturing potential in the Mediterranean, participants discussed means of ensuring competitiveness of locally manufactured products against cheaper imported options from China and the need to enhance public sector involvement and cooperation.

During the Renewables Readiness Assessment session, Gürbüz Gönül, IRENA, presented an analysis of the RRA conducted to date. He highlighted IRENA’s facilitative role in these country-driven, multi-stakeholder assessments that identify obstacles to renewable energy development on the ground and recommend policy solutions.

L-R: Khaled Elnimir, European Investment Bank (EIB); Ashraf Kraidy, League of Arab States; Eefje Schmid, EIB; Gurbuz Gonul, IRENA; El Habib El Andaloussi, UN ESCWA; and Mustapha Taoumi, IRENA
Khaled Elnimir, EIB
Khalid Benhamou, Sahara Wind
Ashraf Kraidy, League of Arab States
Mohammed El Khayat, New and Renewable Energy Authority (NREA), Egypt
Alexis Gazzo, Ernst & Young, presenting preliminary results of a study on renewables manufacturing potential in Morocco, Tunisia and Egypt
L-R: Maged Mahmoud, Regional Center for Renewable Energy and Energy Efficiency (RCREEE); Mohammed El Khayat, NREA, Egypt; Abdelkarim Ghezal, ANME, Tunisia; and Christine Lins, Renewable Energy Policy Network for the 21st Century (REN21)
Abdelkarim Ghezal, ANME, Tunisia
Christine Lins, Executive Secretary, REN21
José Donoso, Spanish Photovoltaics Union
Steve Sawyer, Secretary-General, Global Wind Energy Council (GWEC)
Khalid Benhamou, Sahara Wind
Khadija Dorra Esseghairi, Nur Energy
Private sector and manufacturing potential panel discussants

Gürbüz Gönül, IRENA
Gevorg Sargsyan, World Bank
Gauri Singh, Ministry of New and Renewable Energy, India
Aaron Leopold, Practical Action
Nassourou Bello, Director Renewable Energy, Niger

Henning Wuester, IRENA, and Michael Eckhart, Citigroup
Michael Eckhart, Citigroup
Sean Flannery, Meister Consultants Group
Gauri Singh, Ministry of New and Renewable Energy, India
Henning Wuester, IRENA

L-R: Rabia Ferroukhi, IRENA; Roula Majdalani, UN Economic and Social Commission for Western Asia (ESCWA); Simon Trace, Practical Action; Michele Ferenz, EastWest Institute; and Manuel Pozo, Abengoa
Roula Majdalani, ESCWA
Rabia Ferroukhi, IRENA
Simon Trace, Practical Action
Manuel Pozo, Abengoa
Michele Ferenz, EastWest Institute

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