HomeMiddle East Market ›UAE Plans to Outlay USD 54 Billion in Power and Triple Renewable Sources to Fulfill Its Rising Energy Demands

UAE Plans to Outlay USD 54 Billion in Power and Triple Renewable Sources to Fulfill Its Rising Energy Demands

The UAE has a nuclear power plant, and also a big solar park in Dubai that fulfilled 15 percent of the city’s needs the previous year, leaving it mostly dependant on natural gas imported from Qatar.

July 05, 2023. By Nivedita Ojha

The United Arab Emirates proposes to triple its supply of renewable energy and outlay up to USD 54 billion over the next seven years to fulfill its rising energy demands.

Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s vice president and ruler of Dubai, declared the plans to pursue a Cabinet meeting. They also comprise outlays in low-emission hydrogen fuel and constructing infrastructure for electric vehicles.

He added, “aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams ($40 billion to $54 billion) during the same period to meet the country’s growing demand for energy.”

The major oil-procuring nation has committed to be carbon-neutral by 2050, without fully describing how, and is organising the COP28 climate summit later this year.

The UAE’s oil wealth powered its transformation into a huge centre for business and tourism, popular for the future-oriented cities of Dubai and Abu Dhabi. The country needs large amounts of energy to power the desalination plants that irrigate its desert golf courses, air conditioners that cool its malls, and heavy industries such as aluminum smelters.

The UAE has a nuclear power plant, and also a big solar park in Dubai that fulfilled 15 percent of the city’s needs the previous year, leaving it mostly dependant on natural gas imported from Qatar.
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