UAE plans to invest nearly AED600 billion in clean energy – News

Measures on energy and climate top national targets for next 50 years

Fahad Al Hammadi at the Journey to Net Zero conference. — Photo by Shihab

The UAE has set ambitious targets for the energy sector and plans to invest some US$163 billion (nearly AED600 billion) in clean energy to support the goal of climate neutrality.

This was delivered by Youssef Al Ali, Assistant Undersecretary Engineer for Power, Water and Future Energy at the Ministry of Energy and Infrastructure, and Fahad Al Hammadi, Engineer, Energy Policy Specialist at the Ministry, spoke on his behalf.

The ministry said measures on energy and climate are at the top of the national agenda and top the UAE’s goals for the next 50 years.

They are also a major component of the UAE’s 2050 Net Zero Emissions Strategy to reduce emissions. The UAE is the first country in the Middle East and North Africa region to announce its goal of climate neutrality.

“The UAE is pursuing ambitious plans in the energy sector, especially in clean energy, as the state plans to invest some US$163 billion in clean energy and support the goal of achieving climate neutrality.

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“Additionally, the state is currently working to reassess its national priorities by addressing climate change and finding new opportunities for economic growth, increasing social welfare, and ensuring readiness for the next 30 years,” Al Hammadi said in his presentation.Journey to Net Zero conference hosted by harrij times on Wednesday.

The forum is sponsored by Sustainability Partner Accenture, Gold Sponsor Trane Technologies, Silver Sponsor Fugro, and supported by the Clean Energy Business Council, Middle East Solar Industry and Energy Industry Council Mena. The Forum is officially recognized by the Supreme Energy Council of Dubai.

Al Hammadi added that the UAE has established its global position in clean energy that supports environmental sustainability and reduces carbon emissions. He revealed that the Al Reyadah project is the first facility in the Mena region to capture, use and store carbon on a commercial scale.

“However, the electricity consumed by Petronas comes from carbon-free nuclear and solar power,” he said.

Al Hammadi confirmed that the state, which has invested in renewable energy projects in more than 40 developed and developing countries, as well as peaceful nuclear energy, is now laying a clear foundation for reliance on hydrogen, which is critical to achieving net zero emissions.

He emphasized that the UAE seeks to strengthen cooperation with its strategic partners – locally, regionally and globally – to harness innovation, modern technology and the Fourth Industrial Revolution to develop the energy, power and water sectors.

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