US-UAE Partnership for Accelerating Clean Energy to support decarbonising Romanian power sector

US-UAE Partnership for Accelerating Clean Energy to support decarbonising Romanian power sector

ABU DHABI, 24th May, 2023 (WAM) -- The UAE has joined global partners such as the US, Japan, and South Korea to commit up to US$275 million towards nuclear energy in Romania. The announcement, made by US President Joseph R. Biden at the G7 Summit in Japan, is the first major nuclear energy initiative to be supported under the Partnership for Accelerating Clean Energy (PACE).

Support from the UAE and partners will go towards deploying a NuScale Small Modular Reactor (SMR) in Romania. The UAE's engagement comes through the Emirates Nuclear Energy Corporation (ENEC), which will leverage its significant expertise in constructing and operating light water reactors and support key procurement, engineering, and project management.

US$100 bn for 100gw clean energy

PACE was launched at COP27, in Egypt, in November 2022. PACE aims to catalyse US$100 billion in financing, investment, and other support to deploy 100 new gigawatts of clean energy capacity by 2035. Building on five decades of energy cooperation, the UAE and US established PACE to promote projects and new technologies to accelerate the energy transition and create economic opportunities globally.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and President-Designate of COP28, said, "The world needs to