UAE Embarks on $163B Green Energy Plan
- Jan 18, 2017
Abu Dhabi, United Arab Emirates—Sheikh Mohammed bin Rashid Al Maktoum announced the UAE Energy Plan 2050, a program designed to produce a mix of renewable, nuclear and clean energy sources.
“Our new energy plan balances supply and demand, and takes into consideration our international commitments in terms of the environment,” he said in a prepared statement. “It also seeks to ensure a conducive economic environment for growth across sectors.”
The UAE aims to invest $163 billion by 2050 to boost clean energy contribution in the country’s total energy mix to 50 percent. The 2050 plan seeks an energy mix of 44 percent clean energy, 38 percent gas, 12 percent clean coal and 6 percent nuclear.
“Ensuring the sustainability of energy resources guarantees the sustainability of our country’s growth,” added the prime minister. “Drafting the first unified energy strategy in the country based on supply and demand is a significant achievement of the government. He who does not think of energy is not thinking about the future.”
The plan is slated to be implemented in three phases, with the first focusing on accelerating the move to efficient energy consumption while ensuring stable sources of energy and the diversification of energy sources. The second phase is targeted toward finding new energy-efficient solutions for transportation, while the third phase will revolve around research and development, as well as enhancing innovation and creativity in the supply of sustainable energy.
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