UAE Invests Over AED 45 Bn in Clean Energy Projects
UAE has achieved 27.83 percent clean energy contribution, aiming for 32 percent by 2030. With 6.1 GW renewable capacity and AED 45 billion in projects, the UAE leads in green hydrogen and carbon capture initiatives.
September 16, 2024. By EI News Network
Al Mazrouei revealed this to local media on the occasion of the 'World Utilities Conference 2024', scheduled to be held from September 16-18 in Abu Dhabi, that the UAE doubled its renewable energy capacity between 2019 and 2022, aligning with the UAE Energy Strategy 2050.
Minister emphasised the country’s ongoing commitment to renewable energy, noting that completed projects exceed AED 45 billion in value, excluding recent operational projects. Major developments include the 1.8 GW Phase VI of the Mohammed bin Rashid Al Maktoum Solar Park, the 1.5 GW Al Ajban and Al Khazna photovoltaic projects in Abu Dhabi, and the Hatta hydroelectric plant.
He said, "In 2023 alone, the UAE achieved a 70 percent growth in installed renewable energy capacity, totaling 6.1 GW. This propelled the nation to second place in global per capita energy consumption from renewable sources, according to the latest review by the Energy Institute."
Al Mazrouei also underscored the importance of the World Utilities Conference 2024, which kicks off tomorrow in Abu Dhabi, as a platform for global experts to address sustainability challenges. The UAE’s leadership in carbon capture technology, led by ADNOC’s goal of capturing 10 million tonnes annually by 2030, was also highlighted.
The UAE has solidified its top position in green hydrogen production competitiveness and ranks first in hydrogen market readiness in the Middle East, according to the 2024 Green Hydrogen Report.
Additionally, the UAE’s Federal Energy Management Regulation aims to reduce energy demand in the industrial sector by 33 percent by 2050, cutting carbon emissions by 63 million tonnes and saving Dh 14 billion.
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