Dubai plans to invest $21.79bln in renewable energy projects

Dubai plans to invest $21.79bln in renewable energy projects

UAE - Dubai has invested up to Dh40 billion in the renewable energy sector as it is the future and the emirate will invest another Dh40 billion to generate clean energy in coming years, says a senior official.

Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, engaged in a fireside chat on Dubai’s net zero strategy during the second day of the World Green Economy Summit, which witnessed several panel discussions primarily focused on achieving net-zero and motivating youth to actively participate in climate action.

"The hydrocarbon and gas sector will continue to play an important role. The key factor that will ensure effective clean energy security and supply, is a transition from conventional sources of energy to renewables," Al Muhairbi said.

Al Muhairbi addressed the first session titled ‘Dubai’s Carbon Abatement Strategy & Net-Zero Goal’. Taher Diab, director of Strategy and Planning at the Dubai Supreme Council of Energy gave a presentation on Dubai’s net zero strategy. John Defterios, Professor of Business, NYU Abu Dhabi & World Economic Forum Energy Fellow, moderated the session.

The summit was held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler