November 30 (SeeNews) - Dubai launched on Saturday its clean energy strategy for the period through 2050 that envisages setting up a AED-100-billion (USD 27.2bn/EUR 25.7bn) clean energy fund and making rooftop solar installations mandatory for all new buildings.
In March 2015, the Dubai Electricity and Water Authority (DEWA) presented its Shams Dubai smart initiative to encourage tenants and homeowners in Dubai to install solar photovoltaic (PV) panels for onsite power generation. With the help of that programme and new requirements regarding rooftop solar, Dubai expects all of its buildings to have PV installations by 2030, it said. Furthermore, solar power is seen to represent 25% of the emirate’s energy mix by the same year. The other energy sources within the mix will be nuclear power (7%), clean coal (7%) and natural gas (61%).
As part of the Dubai Clean Energy Strategy 2050, the emirate plans to establish the AED-100-billion Dubai Green Fund in order to provide loans to clean energy investors at reduced interest rates.
Dubai’s multi-gigawatt Mohammed bin Rashid Al Maktoum solar project is also part of the strategy and its total planned capacity has now been increased even further, from 3 GW to 5 GW. The entire AED-50-billion solar complex is expected to become operational by 2030, while its 800-MW Phase II is seen to start generating power in April 2017.
The emirate also intends to spend AED 500 million on a series of clean energy research and development (R&D) centres, including such focused on solar power. Moreover, it plans to create the Dubai Green Zone, a tax-free business zone dedicated to attracting R&D centres and emerging companies operating in the sector.
Dubai’s ultimate objective is for clean energy to represent 7% of its total mix by 2020, 25% by 2030 and 75% by 2050. “Our goal is to become the city with the least carbon footprint in the world by 2050," Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum said in a press release.
(AED 1.0 = USD 0.272/EUR 0.258)