Ahmed Al-Ozairi on renewable energy | Life Energy | Video
The New Economy interviews Ahmed Al-Ozairi, CEO of Life Energy, on the business case for renewables in the Middle East
Show transcriptWhen you think of the Gulf, you think of oil. But the Gulf states’ own energy needs are growing fast, and the more they use, the less they can export. Life Energy’s CEO presents the business case for greater use of renewable energy in the Middle East.
The New Economy: What role would you say renewable energy is playing in the development of the gulf regain?
Ahmed Al-Ozairi: The explanation of growth taking place in the gulf is demanding another source of energy other than the existing type of energy which is purely on fossil fuel. The growth in our region is from 6% – 8% annually on the consumption of using energy. That is 3/4 folds of the world wide consumption growth. Such a growth requires us to find another source of energy to occupy that kind of demand.
The New Economy: Think of the gulf and you think of oil as the main energy resource. So, realistically, how significant a part could renewable play in the energy mix?
Ahmed Al-Ozairi: As we know the gulf states main economy is about producing oil, that type of economy would require to produce and export rather than to produce and consume. So having to include that type of energy would help to export more and consume less and hence a better economy for the region.
The New Economy: Let’s go back to the origins of Life Energy, what inspired you to set up the company?
Ahmed Al-Ozairi: The region has always been known as a prime source of the fossil fuel. But with an ambulance of soil and wind energy available in the region, we thought that would be a perfect tie in to produce more energy.
The New Economy: So what is the road map now for the company, looking ahead?
Ahmed Al-Ozairi: Life Energy will have focus in 2 different segments. 1 of them I would call the utility segment and then there will be the industrial segments. In the beginning we will be focusing more on the industrial area and that will help in producing the energy required for such a region. After that we will be doing the energy for the other parts of the utility sector.
The New Economy: Looking ahead, alliances or partnerships with other companies might be important for you?
Ahmed Al-Ozairi: Without these partners we wouldn’t exist. Without their help we would not be able to complete our achievements. We believe we need to have technology partners, implementation partners and financial partners to be able to achieve our goals.
The New Economy: Ahmed Al-Ozairi, thank you very much.
Ahmed Al-Ozairi: Thank you.