Billions Invested in Renewable Energy in the UAE, because the UAE has plans to triple its supply of renewable energy.
Since the UAE will invest up to $54 billion in renewable energy over the next seven years to meet its growing energy demands.
As we all know, the UAE is a major oil-producing nation but now, it has pledged to be carbon-neutral by 2050.
Furthermore, the UAE is hosting the COP28 climate summit later this year.
Also the UAE announced the formation of an Investment Ministry to be led by Mohammed Hassan Alsuwaidi.
Currently he also serves as the deputy chairman of Masdar, a clean energy firm that has committed tens of billions of dollars to worldwide projects.
Sultan al-Jaber, the chairman of Masdar and CEO of the Abu Dhabi National Oil Co, is also appointed as president of the upcoming climate summit.
The UAE’s oil wealth powered its transformation into a major hub for business and tourism.
Which is known for the futuristic cities of Dubai and Abu Dhabi.
You can read: Growing Non-Oil Trade between the UAE and Japan
The most prominent of these projects is Shams Solar Power Station (the Abu Dhabi Solar Project)
As well as Dubai Solar Park that met 15% of the city’s needs last year.
The UAE is one of the largest investors in solar energy in the world.
In 2022, the UAE announced plans to build the world’s largest solar power plant.
The Solar plant will be with a production capacity of 100 gigawatts.
Surely, this plant will help the UAE to achieve its goal of generating 50% of its energy from renewable sources by 2050.
The United Arab Emirates’ investments in solar energy will help it achieve many goals, including:
- Reducing carbon emissions.
- Achieving energy security.
- Creating new job opportunities.
- Boosting economic growth.
Since Billions Invested in Renewable Energy in the UAE, no doubt the UAE is a leading country in renewable energy.
Also, we are sure that the UAE will achieve its goals to meet its growing energy demands.
Read More:
UAE National Airlines Use Sustainable Aviation Fuel (SAF)
UAE Expands Clean Tech Usage to Face Climate Change.
Dubai Airshow 2023 Coming By Next November.
“Abu Dhabi Health” provides 5000 job opportunities
