Solar power: $100m business with billion-dollar potential



Steve Bolze, the president and chief executive of GE Power and Water, talks with Florian Neuhof at WFES 2012.

q&a

q What brings you to the World Future Energy Summit?

a A big part of our global customer base is here. We've been in Abu Dhabi close to 40 years. About a third of all power in Abu Dhabi is from GE technology. I get up to the region at least three times a year, and it's probably, outside of western Europe and the US, our biggest region in the world.

q Why is the region so important to you?

a The region has very little to no reserve margins. So as economies expand they need power, and that's different than in other parts of the world right now. They are making the investments really on an annual basis. We've announced US$13 billion [Dh47.75bn] in business in the Middle East across the energy business in the last 36 months.

q What are the important themes in your line of business?

a There are three megatrends going on in the world right now: the greater abundance of natural gas right now, and the impact that is having on the marketplace; the role that renewables are going to continue to play as their use expands. The third megatrend we see is called "distributed generation": how do you bring power to the 1.3 billion people in the world that don't have access to power? And a lot of that is not going to be through centralised power generation. The Middle East really is a microcosm of what's going on in the world.

Wen Jiabao, the Chinese premier, made it clear nuclear power is a key pillar of China's energy policy. Are you looking to get involved in the country's nuclear programme?

A lot of our nuclear business right now is around servicing our existing customers around the world, a lot of which are in the United States. China is investing in its own technology development. They will be one of the largest nuclear players in the world, but our role in China will be more on the renewable or the gas side.

q You produce wind turbines in China. How do you compete against Chinese producers, who are known for their low pricing?

a One of your competitive advantages is technology. The reliability of our units is about 99 per cent. That means you get a better cost of electricity out of the wind turbine. Two or three of the biggest players in wind power are Chinese, but we still have the biggest capacity in wind space right now.

q Give us an idea of the size and scope of GE's solar business?

a Solar is a $100 million business. It's not a big part of our portfolio, but when you look at it over the course of the next five to 10 years, this could easily be our next billion-dollar business.

q Is solar power going to become a major source of energy in the Middle East? How will you position yourself in this nascent market?

a Do we believe solar is going to be a growing part of the energy mix in the Middle East? Yes. How do we expand there? It's just like we have done in other parts of our business. We have relationships with customers that go back 40 years in some cases, in some cases 100 years. So we can work together on developing their sites, to make sure the technology works in the short term and the long term.

q How important is it to localise your business?

a That's very important. And that's not unique to the Middle East. That's where the world is today. There is a focus on job creation, on making sure that they have the benefits of the technology development.

MATCH INFO

Asian Champions League, last 16, first leg:

Al Ain 2 Al Duhail 4

Second leg:

Tuesday, Abdullah bin Khalifa Stadium, Doha. Kick off 7.30pm

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

MATCH INFO

Uefa Champions League semi-final, second leg result:

Ajax 2-3 Tottenham

Tottenham advance on away goals rule after tie ends 3-3 on aggregate

Final: June 1, Madrid

RESULTS

2pm: Handicap (PA) Dh 40,000 (Dirt) 1,200m
Winner: AF Senad, Nathan Crosse (jockey), Kareem Ramadan (trainer)

2.30pm: Maiden (PA) Dh 40,000 (D) 1,000m
Winner: Ashjaan, Fabrice Veron, Eric Lemartinel.

3pm: Maiden (PA) Dh 40,000 (D) 1,700m
Winner: Amirah, Conner Beasley, Ali Rashid Al Raihe.

3.30pm: Handicap (PA) Dh 40,000 (D) 1,700m
Winner: Jap Al Yaasoob, Szczepan Mazur, Irfan Ellahi.

4pm: Sheikh Mansour bin Zayed Al Nahyan Cup Prestige Handicap (PA) Dh 100,000 (D) 1,200m
Winner: Jawaal, Fernando Jara, Majed Al Jahouri.

4.30pm: Handicap (TB) Dh 40,000 (D) 1,200m
Winner: Manhunter, Ryan Curatolo, Mujeeb Rahman.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development