It’s the bright lights; it’s the big city; it is Abu Dhabi the Oil
producing Arabic hub - which is paradoxically growing to be the world’s
capital for renewable energy. It is this seemingly shopping capital of
the world that today marks the opening session of the global gathering of
world leaders at the World Future Energy Summit (WFES) and the event is
racing to a quick momentum.
We have witnessed the host Sheiks, the president of the
Maldives, Prime Ministers of Malaysia and Turkey, the crown princes of
Spain & Denmark and a host of other world dignities flag open the
conference. This is not to mention the presence of hundreds of top media
executives including the seemingly ubiquitous CNN.
Of particular interest to this writer is why major traditional energy
producers like Exxon Mobil, BP, Stat Oil, etc are interested in renewable
efforts? The first bus stop was the renewable energy stand of BP where we
had an animated discussion with a BP spokesperson on the
organizations offerings the world over.
Brilliant projects they were but guess what, there are
no renewable energy projects in Africa for the British giant.
Naturally
the journalist in me is quick to ask “why is this so?”, and with the
calmness of a communications specialist, she is quick to take us through
the variables of these kinds of projects and how it all dovetails to the
regulatory policies of the nations and economic viability through workable
business models. It would appear that these fundamentals have not been met
in these countries and renewables are genuinely an emerging business.
At Exxon Mobil, according to a gentleman who I would like to simply
call Rob, in the very first instance they are wont to call it
‘ALTERNATIVE’ energy!
For them, with our (global) seemingly ever-growing capacity to consume
energy, there is a need to think and plan for the future, hence the need
for alternative energy solutions. Saddled with a projected increase in
global energy consumption of about 35% by 2030, the question on the global
giant’s mind is how do we reduce emission with increased energy demand?
The answer is simple - alternative energy solutions.
Exxon Mobil’s offerings for renewable energy are hinged upon integrated
technology solutions with offerings that will ensure increased
carbon capture, increased vehicle efficiency and more; with an overall goal
of ensuring a cleaner environment based fundamentally on the business
viability of the projects. Rob was also quick to add that the policies of
government play important roles in the deployment of these energy
solutions.
The Corporate Spokesman emphasized that the stable investment framework as
seen in Abu Dhabi may have encouraged investments in the region.
An inquisitive mind is tempted to connnet this stability with ExxonMobil's
decision to invest USD 600 Mil in the algae-biofuel project which is a
purely commercial project but for the long run.
One thing with the corporate bulldogs is the ability to hide behind buzz
words and talk so much without saying anything. So I asked what do the
term framework really mean?
And Rob goes, “a good question..” Framework in the light of the context of
our discussion should mean and does mean:
- Stability in the political & business landscape ( the changes in
business and politics should have a view at protecting the business on the
long term)
- Transparent dealings
- Simple and efficient systems and
- A business focused regulatory frame work,
With these as the fundamentals, we have a foundation on which to build and
provoke investment in renewable energy offerings for the whole of Africa.
For us in West Africa, there is a thing or two that can be items for
internal refection and what those are is left for you to decide.
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