Monday, February 26, 2024

Suhail Al Mazrouei: 200 billion dirhams in clean energy investments by 2030

Date:

Minister of Energy and Infrastructure His Highness Suhail Al Masrouei said the UAE has set a target of tripling the contribution of renewable energy over the next seven years and will pump in Dh200 billion in investments to ensure the country meets its growing energy needs. Rapid economic growth, and increasing the share of installed clean energy to 30%.

In his speech at the opening of the ninth session of the World Green Economy Summit, he said the summit is proving to be a driving force for the global transition to a green economy.

Indicating that the UAE is focused on improving preparedness for the future, preparing policies and strategies and adopting a proactive approach that supports global leadership, it has announced a number of policies and strategies that support a proactive approach, including the UAE Energy Strategy 2050. and the National Hydrogen Strategy.

Improve performance

His Excellency added: “We aim to reduce energy consumption by improving efficiency by up to 45% by 2050. The National Hydrogen Strategy is part of the country’s initiatives and plans to invest in clean energy sources and support global efforts to promote environmental sustainability. To achieve the country’s goals of achieving climate neutrality by 2050 represents a decisive instrument.

The strategy aims to develop local capacities to produce 1.4 million metric tons of low-emission hydrogen per year by 2031 and increase production to 15 million tons by 2050.

Clean energy

The Honorable Minister said: “Energy and infrastructure are at the heart of the transition to a green economy, including energy, infrastructure, transport and buildings, each of which has many opportunities for deep decarbonisation, as clean energy is a key requirement for building a strong green economy, and the UAE is in the transition to clean energy. invests.

See also  Emirates News Agency - "COP28" confirms the UAE's position as a global destination for sustainable tourism

Several projects are now on-line and others are under development, and over the next seven years, we aim to increase our clean energy capacity to 19.8 GW.

Transportation

Regarding the transport sector, the Honorable Minister of Energy and Infrastructure said: We plan to increase the share of electric and hybrid vehicles to 50% of the total number of vehicles on our roads by 2050. To expand our network of electric car charging stations, we may be the first country to establish a soon-to-be-announced pricing mechanism that will incentivize the private sector to invest in electric vehicle charging stations.

His Excellency pointed to the infrastructure sector’s focus on developing low-carbon building materials and implementing sustainable building practices, with a focus on the circular economy.

Bill Dittman
Bill Dittman
"Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

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