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UAE plans to invest Dh600 billion in clean energy

Latest News Dubai 26 Nov 22
UAE plans to invest Dh600 billion in clean energy
UAE: measures taken in relation to energy and climate rank high among the country's goals for the next 50 years
Event Location
Dubai, Dubai
Start Time
26 November 2022, 12:00 AM
End Time
31 December 2022, 12:00 AM

UAE has set ambitious targets for the energy sector and plans to invest around $163 billion (nearly Dh600 billion) in clean energy to support the goals of climate neutrality.

The measures taken in relation to energy and climate are a top priority on the national agenda and rank high among the UAE's goals for the next 50 years, the ministry said.

This was stated during a speech by engineer Youssef Al Ali, Assistant Undersecretary for the Electricity, Water and Future Energy Sector at the Ministry of Energy and Infrastructure, which was delivered on his behalf by engineer Fahad Al Hammadi, an energy policy expert at the ministry.

They are also a major element in the Net Zero by 2050 strategy that the UAE rolled out to cut down emissions. The Emirates is the first country in the Mena region to announce its goal to achieve climate neutrality.

“Furthermore, the state is currently working to re-evaluate its national priorities by combating climate change and looking for new economic growth opportunities, increasing social benefits, and ensuring future readiness for the next 30 years,” Al Hammadi said during the speech given at The Journey to Net Zero conference on Wednesday.

The forum was sponsored by sustainability partner Accenture, Gold Sponsor Trane Technologies, Silver Sponsor Fugro, and supported by Clean Energy Business Council, Middle East Solar Industry and Energy Industries Council Mena. The Dubai Supreme Council of Energy officially endorsed the forum.

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

UAE Net Zero conference

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