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UAE sets 44% renewables goal for 2050

Dubai. Author: Francisco Anzola.

January 12 (SeeNews) - The prime minister of the UAE announced earlier this week that the nation will aim at a 44% renewable energy share by 2050, combining that with nuclear power and “clean fossil energy solutions”.

In a series of tweets Tuesday, Sheikh Mohammed bin Rashid al-Maktoum presented the Energy Strategy 2050. He said AED 600 billion (USD 163bn/EUR 155bn) would be invested by 2050. Apart from renewables, the strategy envisages 6% nuclear, 12% clean fossils and 38% gas.

“Our aim is to balance our economic needs with our environmental goals,” Rashid al-Maktoum said.

 

The plan will integrate renewable, nuclear and clean fossil energy solutions; AED 600 billion to be invested by 2050. pic.twitter.com/mr30hRdlGL

— HH Sheikh Mohammed (@HHShkMohd) January 10, 2017

 

A recent report by 6Wresearch says that the UAE is expected to be the leading market for solar equipment in the Gulf Cooperation Council (GCC) over the coming years, thanks to major projects in Dubai and Abu Dhabi.

(AED 1 = USD 0.27/EUR 0.26)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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