UAE leads in renewable investments globally; on the road to achieving ‘ambitious’ climate goals

UAE leads in renewable investments globally; on the road to achieving ‘ambitious’ climate goals

The UAE has invested over $50 billion in renewable energy projects in 70 countries

Published: Mon 30 Oct 2023, 9:15 PM Last updated: Mon 30 Oct 2023, 9:30 PM

The UAE is a leader in investments made into renewable energy solutions and advanced technologies not just in the region but globally, said Bruce Douglas, CEO of Global Renewables Alliance, during the Pre-COP event in Abu Dhabi.

Douglas, who on the opening day of the conference, held a meeting with Suhail Al Mazrouei, Minister of Energy and Infrastructure, among others, and highlighted how the UAE is on the road to achieving its ambitious climate goals.

“The UAE and the Middle East, generally, have fantastic resources. There is solar energy to be exploited,” Douglas, who is representing the global renewables industries, told Khaleej Times.

The UAE has a long-term plan for the future of energy and reducing its emissions. The UAE Energy Strategy 2050 seeks to triple the share of renewable energy by 2030 and raise the contribution of installed capacity of clean energy to 30 per cent of the total energy mix by 2030. Additionally, it aims to achieve financial savings of Dh100 billion and channel Dh150-200 billion to national investments by 2030 to meet the