Ongoing UAE power sector investments exceed $26b

Ongoing UAE power sector investments exceed $26b

The UAE is at the forefront of the energy transition from fossil fuels to renewable energy and a green hydrogen ecosystem

Yousif Ahmed Al Ali, assistant under-secretary for Water, Electricity and Future Energy Affairs, Ministry of Energy and Infrastructure, addressing the Mena Power Projects Forum in Dubai on Wednesday. — Supplied photo

Published: Wed 7 Sep 2022, 7:58 PM

The ongoing power sector investments in the Middle East and North Africa exceed $250 billion, as the region is expected to add 5.6 GW of installed capacity from renewables in 2022, nearly double the 3.0 GW that came online in 2021.

According to the data released by industry experts at the Mena Power Projects Forum, among the current top 25 power projects in the Mena region, nine are in the UAE. In terms of project value, the UAE comes third with $26 billion worth of power projects under planning and development.

The UAE is at the forefront of the energy transition from fossil fuels to renewable energy and a green hydrogen ecosystem.

“The UAE Energy Strategy 2050 has clear objectives: Increasing the share of clean energy in the total energy mix to reach 50 per cent by the year 2050; reducing the carbon footprint of power generation