Global energy sector needs $48 trillion investment

The report sets out the changing nature of the global energy mix over the next decade, which will see an increased contribution from renewables.

Abu Dhabi — Energy demand in the Gulf is set to triple in the next fifteen years far outstripping today’s supply, said the findings of a report on energy.

Closing the global energy gap will require $48 trillion of investment over the next 20 years in projects that provide additional energy generation capacity and improve the efficiency of energy use, found NBAD’s ‘Financing the Future of Energy Report’, which was launched at the Global Financial Markets Forum in Abu Dhabi. 

The report sets out the changing nature of the global energy mix over the next decade, which will see an increased contribution from renewables.

The report highlights the growing demand for sustainable energy; and how the community can engage with public and private sector stakeholders to create a more integrated energy mix for the future.

More than half of the investment in new electricity generation worldwide is in renewables; solar PV will be at price grid parity in 80 per cent of countries in the next two years.

 “The strategy we have set ourselves at NBAD is to expand our presence along the West-East Corridor and this report provides a platform for to us to engage the key decision makers in the region and develop new financial structures that will ultimately convert the trends into bankable solutions,” said Nathan Weatherstone, executive director, Project Finance Advisory.