- January 27, 2023
- Posted by: Waqas Siddiqui
- Category: Business & Economy
UAE launches AED 158 billion of clean energy projects
The United Arab Emirates (UAE) has started investing heavily in environmentally friendly energy projects. Last year over 11 environmentally friendly energy projects worth AED 159 billion were launched in the country. UAE’s clean energy production in 2021 totalled 7,035.75 megawatts (MW). This reflects the country’s pioneering efforts in the clean energy sector.
Similarly, the UAE Energy Strategy 2050 was also launched last year, which was the first unified energy strategy by the UAE. The aim of the strategy is to integrate the renewable and clean energy mix to achieve a balance between economic needs and climate goals. In addition it will also focus on reducing dependency on other fuel sources over the next three decades.
UAE National Energy Strategy 2050
The features of the energy sector’s future were revised for the upcoming 50 years, considering the National Energy Strategy 2050. Clean energy’s contribution to the UAE’s energy sector reached 19.63% in 2021. Similarly the contribution of renewable energy reached 12% and the contribution of peaceful nuclear energy reached 7.55%.
The global turmoil in energy supplies has created challenges related to energy security. This has led UAE to a focus on using resources available locally to meet the energy requirements. The UAE has considerable potential in the field of solar power. The low cost of solar power will enhance the country’s energy security in addition to playing a key role in achieving carbon neutrality.
Barakah Nuclear Power Plant – UAE
The upcoming Barakah Nuclear Power Plant in UAE is a leading innovative energy project in the process of energy transition. Once fully operational, its four reactors are expected to offset 22.4 million tonnes of carbon emissions. It will also play a key role in reducing the carbon footprint of the UAE’s energy sector and enable the country to reach climate neutrality by 2050.
The National Energy Strategy bodes well for the UAE government’s initiative to improve the quality of life in the country. According to the data released by Numbeo, UAE oversaw a massive improvement in Quality of Life Index – 2022. Factors like purchasing power, safety and health care witnessed the biggest improvement in 2022. Similarly, UAE approved 22 policies to expedite transition to a circular economy. The motive was to protect the UAE’s environment and ensure the long-term socio-economic prosperity of the country.
Last year, H.H. Sheikh Mohammed bin Zayed Al Nahyan presented his vision for the UAE. He emphasized on continuing to consolidate UAE’s position as a reliable energy provider by supporting global energy security as a fundamental driver of global economic growth and development.
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