The United Arab Emirates has announced its plans to invest up to $54bn (£45bn) over the next seven years to meet its energy demands.
The National Energy Strategy announced by Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s vice president and ruler of Dubai, also includes investments in hydrogen fuel and developing infrastructure for electric vehicles (EV).
The ambitious plan is part of the country’s roadmap to achieve net zero emissions by 2050 and comes months before the COP28 climate conference, which will be hosted by the country in November.
“The UAE presents a shining example for adopting policies and strategies that contribute to shaping a more sustainable future at home and globally,” said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure in a press briefing.
UAE Prime Minister Sheikh Mohammed bin Rashid provided more details of the strategy in a tweet.
Currently, the UAE is the world’s 11th-largest oil producer.
However, the country has announced its goal to increase the share of energy produced by renewables three-fold. Specifically, the UAE hopes to achieve 14GW capacity of clean energy by 2030, up from 9.2GW current capacity.
The country has also identified green hydrogen as a key source of clean power. in order to drive forward its development, the government said it will develop “a regulatory framework and policies that support hydrogen”.
The country’s goal is to produce 14 million to 22 million tons per year of hydrogen by 2050, according to officials.
“The plan aims to consolidate the country’s position as a producer and exporter of low-emission hydrogen over the next eight years,” the UAE Prime Minister said.
By the end of the decade, the UAE is targeting an energy mix combining different sources of clean energy to satisfy these energy goals, comprised of 44 per cent clean energy, 38 per cent gas, 12 per cent clean coal and 6 per cent nuclear.
In the long term, the UAE hopes to cut carbon emissions from power generation by 70 per cent by 2050.
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Original Source: https://eandt.theiet.org/content/articles/2023/07/uae-unveils-plans-to-triple-its-energy-resources-by-2030/