Edit post Follow this blog Administration + Create my blog
Umar Farooq Zahoor - Known Investor and Entrepreneur, lives in Dubai

Mr. Umar Farooq Zahoor, former director AMERI GROUP - One of the most influential personalities in today’s world. Sheikh Umar Farooq Zahoor has won so many awards over the years for being the best Norwegian-Pakistani businessman. Today, he is a successful billionaire businessman living a magnificent life in Dubai. Umar Farooq Zahoor, a former director of MERI GROUP and well-known investor and entrepreneur. His smart career choices and keen investment decisions have made him the proud owner of several companies over the years. Along with making capital, Sheikh Umar Farooq Zahoor is a generous man who always helps the needy and is involved in sever CSR that is corporate social responsibility activities.

Energy and power sector in UAE and Umar Farooq Zahoor’s take on it

Over the last ten years, the United Arab Emirates has risen by more than 400 percent in the renewable energy portfolio and in the next ten years, it is set to double it.

At the recent Abu Dhabi Sustainability Week, a global forum to expedite sustainable development worldwide, the dedication of the United Arab Emirates to renewable energy was fully displayed.

Umar Farooq Zahoor, a Pakistani-Norwegian businessman, recently said in relation to renewable energy that “This year we will be the first country in the world to deliver secure, commercial and peaceful nuclear power to complement our clean energy portfolio. In short, the UAE does not just address the problem, but walks around with cheap, clean energy supply. We do this because it is right and it makes perfect economic sense,”

Umar Farooq Zahoor, who is a successful businessman and a Philanthropist was outlining how the UAE was harnessing energy and technologies of the future to drive sustainability.

In the UAE and in more than 30 countries worldwide, ventures for renewable energy totaling nearly 12 gigawatts were initiated.

Sheikh Umar Farooq Zahoor also added that all the big businessman and industrialists should strengthen the greenhouse gas emission rate by 25 per cent by 2030 to further increase the commitment to environmental management. To help reduce environmental and resources pressure in this harsh Covid-19 pandemic, all large companies should limit their fresh water consumption to less than 0.5% of overall water consumption, and increase carbon capture, use, and storage by 500%.

Recently Al Jaber, a big trader and businessman of UAE said “We will plant 10 million mangroves in Abu Dhabi Al Dhafra region preventing coastline erosion and protecting biodiversity offshore and on land.’’

While talking to a journalist, Umar Farooq Zahoor appreciated this act and want to do something similar to contribute to growth of renewable energy in UAE.

During the Abu Dhabi Sustainability Week, several agreements were signed. An agreement with the Japanese Marubeni Corporation on cooperation in the production of energy efficiency and explorations of water resources was entered into by the Energy Department of Abu Dhabi.

To mark its introduction in Southeast Asia, a large number of energy and electricity industries and companies have signed a power purchase contract (PPA) for the first floated solar photovoltaic (PV) plant in the country with Perusahaan Listrik Negara (PLN), an electric power company in Indonesia.

Several companies have announced an agreement for the creation of a joint venture in Spain and Portugal to build renewable energy projects.

The UAE wrestled with three different energy problems during the past decade. During an economic boom that hit declining gas reserves outside Abu Dhabi, the country was short of gas, because of rapid growth in demand. Major purchases of liquefied natural gas through Dolphin pipelines have made the country a net importer, despite the 7th largest reserves of the world.



Share this post
To be informed of the latest articles, subscribe:
Comment on this post