Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, announced the inception of EXERGY, a groundbreaking international energy investment company. This announcement was made during the inaugural session of Abu Dhabi Sustainability Week, an annual event focused on sustainable development.
Dr. Al Jaber highlighted the urgent need for diversified energy solutions in response to skyrocketing power demands driven by rapid technological advancements, including artificial intelligence (AI). “Before AI’s exponential growth, power needs were already projected to increase from 9,000 GW to more than 15,000 GW by 2035,” he noted. With the rise of AI applications, such as ChatGPT, which now attracts half a billion visits monthly and consumes ten times the energy of a Google search, energy demand by 2050 could soar to 35,000 GW—a staggering increase of over 250%.
EXERGY aims to meet these challenges through a comprehensive and adaptable energy infrastructure, integrating resources from natural gas and chemicals to low-carbon fuels. Al Jaber emphasized the importance of an “end-and” approach, underscoring the need for a versatile energy strategy rather than limiting options through restrictive policies. “EXERGY is designed to maximize the potential of every unit, every spark, and every joule of energy,” he explained, illustrating its role in the UAE’s diversified energy portfolio.
Experts from the International Energy Agency (IEA) predict that global energy consumption will grow by nearly 50% by 2050, driven primarily by non-OECD economies. The increasing demand for digital services and AI applications significantly contributes to this trend. According to a report by the World Economic Forum, the digital economy’s energy consumption could account for up to 20% of global usage by mid-century.
Dr. Fatih Birol, Executive Director of the IEA, commented on the importance of such initiatives, “Innovative energy solutions like EXERGY are vital for meeting future demands sustainably. The integration of advanced technologies with diverse energy sources will be key to ensuring a stable and resilient global energy system.”
In an exclusive update, EXERGY plans to collaborate with leading AI firms to develop energy-efficient technologies tailored for high-demand applications. This partnership aims to curb energy consumption in data centers, which currently account for approximately 1% of global electricity use, a figure projected to grow significantly.
As EXERGY sets its sights on a sustainable energy future, it represents a pivotal step towards addressing global energy challenges while fostering innovation and economic growth. This initiative not only underscores the UAE’s commitment to sustainable development but also positions it as a leader in the international energy landscape.
