UAE’s clean energy investments cross AED 45bn – Minister

UAE – Mubasher: The UAE increased its contribution of clean energy production to the total energy mix, reaching 27.83% in 2023 as part of its target of 32% by 2030.

Suhail bin Mohammed Al Mazrouei, the UAE’s Minister of Energy and Infrastructure, announced the significant progress in an interview with the Emirates News Agency (WAM) on the occasion of the World Utilities Congress 2024.

The Gulf country is committed to fostering investment in clean and renewable energy, as the total value of its completed new and renewable energy projects exceeded AED 45 billion.

Al Mazrouei said: "From 2019 to 2022, the UAE has succeeded in doubling its renewable energy capacity as part of the UAE Energy Strategy to triple the installed capacity by 2030, towards our commitment to achieve the energy transition targets as per the UAE Consensus at COP28."

“In 2023, the UAE achieved a remarkable growth of 70% in installed renewable energy capacity, which reached 6.10 gigawatt (GW), and made progress in renewable energy competitive indicators,” the minister added.

He also shed light on the progress of the UAE Energy Strategy 2050, highlighting several key renewable and clean energy projects currently underway and on the horizon.

These projects include 1.80 GW Phase VI of the Mohammed bin Rashid Al Maktoum Solar Park, the 1.50 GW Al Ajban, and the 1.50 GW Al Khazna, both in Abu Dhabi.

He also unveiled that the hydroelectric power plant in Sharjah and the recently commissioned fourth reactor at the Barakah plant are set to make significant contributions.

Meanwhile, ADNOC is at the forefront of adopting carbon capture and storage technologies in order to achieve climate neutrality by 2045.

The UAE-based group seeks to double its annual carbon capture capacity to 10 million tonnes by 2030.

In the same vein, Al Mazrouei indicated that the Federal Energy Management Regulation in Industrial Facilities aims to reduce energy demand in the industrial sector by 33% by 2050.

The authority will improve air quality by 32% via lowering carbon emissions by 63 million tonnes. It is also forecast to save AED 14 billion by 2050.

He elaborated: “The Ministry’s new policy aims to cut energy and water use in federal buildings by 25% and operational costs by 20%. Backed by AED 500 million from private sector and energy service companies, it covers 422 government buildings.”

Mubasher Contribution Time: 16-Sep-2024 08:03 (GMT)
Mubasher Last Update Time: 16-Sep-2024 08:03 (GMT)