UAE to Invest $163b on Renewable Energy

UAE to Invest $163b on Renewable Energy

The United Arab Emirates (UAE) has said that it intends to invest $163b in projects to generate half of the nation’s power needs from renewables by 2050, BBC reported.

The UAE has considerable solar power potential and is eager to reduce its use of fossil fuels. Accordingly, UAE’S Prime Minister ,Sheikh Mohammed bin Rashid Al-Maktoum, said: “Our aim is to balance our economic needs with our environmental goals.” By 2050, Al-Maktoum said that “hopefully” 44% of the country’s energy usage would come from renewable sources, 38% from gas, 12% cent from cleaner fossil fuel, and 6% from nuclear power, according to the Independent.

Several Middle Eastern countries such as Kuwait, Qatar, together with the UAE are trying to shift away from both their economic and domestic energy reliance on oil, after prices fell by more than half in 2016. As a result, Dubai and Abu Dhabi, which as the country’s major cities, have previously led green initiatives to wean the country off dependence on fossil fuels.  In 2013 Abu Dhabi managed to move 20,000 homes onto a solar power grid, and started work on four planned nuclear reactors.  In June 2016, Dubai announced the creation of a solar power plant, to be completed by 2030.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password