Sun and wind energy are on focus at Abu Dhabi

The World Future Energy Summit (WFES) 2012 at Abu Dhabi will focus on renewable energy. Falling costs of wind turbines  and photovoltaic made nuclear energy to write red figures. France has to invest 10 billion Euro to update safety issues of its ageing nuclear power stations.  [1]

Dependence on uranium producing countries is another issue to worry about the future of nuclear power plants, let alone, the ever growing unsolved question of how to proceed with the nuclear waste and decommissioning of old power plants.  Nuclear power is neither cheap nor clean. The possibility of radioactive fallout from a faulty reactor and mounting safety costs appear to far outweigh any benefits formerly associated with nuclear energy.

There is a huge  opportunity for investors in Africa and Middle Eastern countries such as Egypt which are looking for sustainable energy, such as wind farms and photovoltaic arrays. These  devices can be started in small units and can grow on a modular basis. This is a big advantage  over traditional electricity generation based on thermal steam turbines which must start with an enormous initial investment.

Nigeria bank reports renewable energy investments in Africa soaring from  US$750m in 2004 to $3.6bn in 2011, and some say it will amount up to $57bn by 2020.

Nearly half of humanity, over 2.5bn people, still relies on wood, charcoal and animal waste to cook and heat their homes. China is aware of the economic power of renewables, investing heavily in the production of wind turbines and photovoltaic panels, and has left to US far behind. The Obama administration failed to see the new direction of the energy economy.

[1] Europe's reliance on nuclear energy a costly obstacle to green power. The National 14 Jan 2012.
http://www.thenational.ae/thenationalconversation/industry-insights/energy/europes-reliance-on-nuclear-energy-a-costly-obstacle-to-green-power