Aberdeen is poised to become home to the biggest green energy showcase in the world – thanks to investment from the Middle East.
A deal unveiled yesterday is widely expected to put the annual All-Energy exhibition and conference on a level footing with the Granite City’s largest event, the biennial Offshore Europe oil and gas showcase.
All-Energy, launched in 2001, is already the biggest show of its kind in the UK.
The investment is from the Qatar MICE (Meeting, Incentive, Convention and Exhibition) Development Institute, which has acquired Aberdeen Exhibition and Conference Centre’s (AECC) 45% stake in the event.
Exhibition and conference specialist Media Generation Events, which has helped the event take off from modest beginnings eight years ago, also owns 45%. The remaining 10% is held by a third undisclosed party.
No value was put on the sale by AECC, which has been bailed out by Aberdeen City Council twice during the past six months.
It is understood the AECC’s stake attracted interest from a number of investors, including Offshore Europe organiser Reed Exhibitions.
The Qatari deal includes a tenancy agreement, securing the future of All-Energy at the AECC for at least six years, and a commitment from the investor to expand the show.
All-Energy ’09, which takes place on May 20 and 21, is on course to beat all previous records for the series, which last year saw 380 exhibitors from 12 countries and 4,700 visitors from 61 nations.
The Qataris aim to build on that, making All-Energy the biggest renewable energy showcase in Europe and eventually the world.
Matthew Meredith, the Qatari group’s chief executive, said: “Aberdeen is the natural home for All-Energy, a position we have cemented by signing a long-term tenancy agreement.
“I am impressed by the scope and vibrancy of the show and the suitability of both Aberdeen and AECC.”
Mr Meredith said last month’s news of a potential £40million European Commission investment in Aberdeen Renewable Energy Group (AREG)’s £160million offshore windfarm project and other developments in the sector made the Granite City an “inspired” choice for hosting a major international renewables show.
AECC managing director Brian Horsburgh said he looked forward to a “long and fruitful relationship” with the Qatari group.
“AECC’s involvement as a partner in the show was primarily a mechanism to allow this important event to develop from start-up,” he said. “I look forward to seeing it expand further.”
Mr Horsburgh said the show’s major contribution to raising the profile of the renewables industry and Scottish expertise in the sector was now more important than ever, given the Scottish Government’s commitment to green energy investment as a powerful means of aiding economic recovery over the next few years.
Finance Secretary John Swinney has set a target of creating 16,000 renewable energy jobs in Scotland over the next decade.
AREG chairman Jeremy Cresswell said: “I am delighted that All-Energy has attracted such high-calibre international investment and am confident the show will continue to grow vigorously.”
He added: “All-Energy is a very important part of AREG’s vision of making Europe’s energy capital as globally important for renewables as it currently is for upstream oil and gas.”
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