The UAE is planning a massive AED200bn ($54.5bn) spend in the remainder of the decade as it looks to meet sustainable energy demand and meet net-zero targets.
Suhail Al Mazrouei, Minister of Energy and Infrastructure, stated that the UAE plans to invest up to AED200bn ($54.5bn) to meet sustainable energy demand over the next six years, aiming to “decarbonise our economy and achieve net-zero emissions by 2050.”
In his remarks on the occasion of the launch of ADIPEC 2024, Suhail Al Mazrouei added that “our efforts to diversify the energy mix and increase reliance on clean energy sources align with our goal of reducing carbon intensity in our oil and gas operations by an additional 25 per cent over the next decade.”
Sustainable energy investment in the UAE
He said that the UAE serves as a model for an ambitious and practical transition to clean energy sources.
Al Mazrouei said: “We continue to meet today’s global energy needs while heavily investing in clean energy systems for the future. We already have significant investments in clean energy projects in operation and others under development”.
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