US, UAE sign clean energy partnership

US, UAE sign clean energy partnership

The agreement unlocks $100 billion in financing.













Participants attend the Abu Dhabi International Petroleum Exhibition and Conference, Abu Dhabi, Emirates, Nov. 11, 2019. - -/AFP via Getty Images























November 1, 2022









The United States and the United Arab Emirates (UAE) today signed an agreement on the energy transition. 

The “UAE-US Partnership for Accelerating Clean Energy” unlocks $100 billion in financing and other support for clean energy projects in the UAE, US and other countries to be determined. The goal is to create 100 new gigawatts of such energy. The two countries will target the following sectors, according to the official Emirates News Agency. 

clean energy innovation

supply chains

carbon and methane management

advanced nuclear reactors

decarbonization

Why it matters: The agreement was signed during the Abu Dhabi International Petroleum Exhibition and Conference, aka ADIPEC, that is happening right now in the Emirati capital city. The meeting is focused on both the continued development of the oil and gas sectors as well as boosting alternative energy sources — particularly hydrogen. 

The UAE prioritizes such partnership agreements in its foreign policy and