|11 January 2017|
The United Arab Emirates (UAE) is to invest $163 billion into the country’s renewables industry in a bid to generate 50% of its power needs from clean energy sources by 2050.
The UAE’s new energy strategy was announced this week by the Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.
At the launch of the UAE Energy Strategy for 2050, Sheikh Mohammed revealed the UAE “will work on increasing the contribution of clean energy in the energy mix from 25% to 50% by 2050 while slashing carbon footprint during power generation by 70% over the next three decades.”
He added: “Our new energy plan balances between supply and demand, and takes into consideration our international commitments in term of environment. ”