WEBVTT

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Pattabi, Jens, welcome. Jens, to
you first.

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Talk me through, if you would,
ENOWA's climate goals.

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Ultimately, we are going to
build a system, 100%

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renewable-based from scratch,
and going to be net zero by

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2030. That is at the core of
what we do in ENOWA.            

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             Where are you on
that process?  

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That's great.

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We've started a lot with, let's
say, conceptual and design work

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as you would expect.

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But we are now firmly in the
build, from a grid perspective,

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from a renewable energy
perspective, but also making

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sure that we can serve customers
from the beginning of the next

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year.

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Pattabi, broadening this out
globally, is 100% renewable

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energy within our grasp?

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I think Georgie, that's about 10
to 15 years away.

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This is a good model that people
can learn from.

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The first 30 to 50% is
relatively straightforward.

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The next 30% gets a little
harder.

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The last 20% is where the
biggest challenges are.

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The main challenge there is
price volatility, affordability,

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and then having it available
100% of the time, reliably.

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So those are the three
challenges that still need to be

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solved.

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Jens,

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what do you foresee is the
biggest challenge that you will

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face in getting to 100%
renewable?

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What are some of the big
challenges you've already faced?

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Well, I would say it's finding
the blend, in NEOM, between

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thinking big and actually
achieving something in the here

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and now.

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While we have a clear strategy
to hit our 2030 targets, it's

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also about making sure that we
keep the lights on in the here

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and now and serve our first
customers and first project

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across the region.

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Finding the right balance for
that is probably quite tricky.

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On a more personal level, I
would say, on reflection, if you

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think and come to NEOM by
saying, 'I just bring in my

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experience, and that's going to
be good enough', that's probably

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not going to work, because a
number of us have made their

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experiences in legacy systems,
which is not what will help you

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to be able to safely create a
100% renewable system from

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scratch.

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Unlearning has been a material
challenge for all of us in this.

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Pattabi, I was going to ask you
what advice would you have for

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leaders on their journey.
Unlearning what you've learned,

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coming in with a fresh mindset,
what else is in there?

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Addressing the three things I
mentioned on the affordability

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side: technology costs coming
down, whether it's hydrogen,

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carbon capture, etcetera, to try
to address that last 20%; market

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design, to make sure that the
volatility is not as high as it

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will be if there's not enough
availability; and then making

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sure that the reliability is
there.

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So those three pieces, entirely
possible to do, and this is what

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we are working on with clients
like ENOWA, but also more

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broadly.

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Pattabi, Jens, thank you so
much.

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Thank you very much.