UAE to invest Dh200 billion over next six years to meet sustainable energy demand
In his remarks on the occasion of the launch of a key energy event, Suhail al-Mazrouei, UAE’s Minister of Energy and Infrastructure, highlighted the country’s plans to invest Dh200 billion over the next six years to meet sustainable energy demand.
The UAE has been putting substantial efforts in recent years into decarbonising its economy and achieving net-zero emissions by 2050. The Minister affirmed that the Gulf state serves as a model for an ambitious and practical transition to clean energy sources.
UAE is a global pioneer in adoption of clean energy tech
The UAE’s efforts to diversify the energy mix and increase reliance on clean energy sources support the country’s objective of reducing carbon intensity in its oil and gas operations by an additional 25% over the next decade, al-Mazrouei added.
During the energy event on Monday, the Minister noted that the UAE continues to address today’s energy needs and, simultaneously, invests in clean energy systems for the future. The country already has significant investments in notable clean energy projects.
Last month, al-Mazrouei noted in a post on X that the UAE is a global pioneer in the adoption of clean energy technologies. The GCC nation is taking confident steps, guided by the UAE Energy Strategy 2050 that calls for tripling the local reneables capacity by 2030.
During the COP28 Summit in Dubai last November, participants noted breakthrough progress across the entire climate agenda. The UAE Consensus calls for an orderly and equitable clean energy transition. The Summit noted that multilateralism can still do its job perfectly.
UAE Energy Strategy 2050 and Year of Sustainability
Launched in 2017, the UAE Energy Strategy 2050 is the first unified energy strategy in the country that seeks to balance supply and demand and environmental obligations in order to create a conducive economic environment for further development.
Considering the dynamic changes in the energy sector and the UAE’s commitment to the 2015 Paris agreement, the strategy has been updated, setting objectives for 2030 and ambitions for 2050 to reach net zero. The UAE is celebrating its Year of Sustainability in 2024, too.
