UAE plans to invest in sustainable energy
The UAE will invest Dh600 billion until 2050 to meet the growing energy demand and ensure the sustainable growth of the economy, according to an article.
Dubai has become an international pioneer in developing the clean and renewable energy sector. It has developed a number of techniques and practices to enhance the efficiency of the energy sector while rationalising consumption and finding alternative solutions to conventional energy. The UAE has taken early steps to bid farewell to the last barrel of oil, and achieve a balance between development and maintaining a clean, healthy, and safe environment. The UAE Energy Strategy 2050 aims to achieve an energy mix that combines renewable and clean energy sources to balance economic requirements and environmental goals.
The Dubai Clean Energy Strategy 2050, which was launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aims to provide seven per cent of Dubai’s total power output from clean energy by 2020. This target will increase to 25 per cent by 2030 and 75 per cent by 2050. Dubai is the only city in the region to have launched such a promising strategy, with set goals and timelines that map the future of energy until 2050.
The strategy consists of five main pillars: infrastructure, legislation, funding, building capacities and skills, and having an environment-friendly energy mix. The infrastructure pillar includes initiatives such as the Mohammad bin Rashid Al Maktoum Solar Park, which is the largest single-site solar energy project in the world, with a planned total production capacity of 5,000 megawatts (MW) by 2030, and a total investment of Dh50 billion.
Source: Trade Arabia
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