UAE to invest AED200 billion ($54 billion) in sustainable energy

November 5, Kathmandu:  The United Arab Emirates (UAE) on Monday announced plans to invest up to AED200 billion ($54 billion) in sustainable energy projects over the next six years. This significant investment is part of the nation’s broader strategy to decarbonize its economy and achieve net-zero emissions by 2050.

Suhail Al Mazrouei, Minister of Energy and Infrastructure, revealed the ambitious plan at the launch of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2024. He emphasized the UAE’s commitment to diversifying its energy mix and increasing reliance on clean energy sources.

According to the Emirates News Agency (WAM), this approach aligns with the nation’s goal of reducing carbon intensity in its oil and gas operations by an additional 25% over the next decade.

Al Mazrouei highlighted the UAE’s role as a global leader in the transition to clean energy. The country is actively investing in both existing and new clean energy projects, demonstrating a practical and ambitious approach to sustainable energy development.