UAE aims to save $190bn with ambitious “clean energy” plan11 January 2017 | By GCR Staff 1 Comment
The United Arab Emirates (UAE) has unveiled a plan to power the country 50% by “clean energy”, and to reduce energy consumption by 40%, leading to savings of $190bn (AED700 billion) by 2050.
To reach the ambitious targets the government will spend $163bn (AED600 billion) by 2050 on meeting growing power demand to “ensure the sustainable growth of the UAE economy”.
The equation targeted by the 2050 strategy is 44% clean energy, 38% gas, 12% clean coal and 6% nuclear, UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, who is also Ruler of Dubai, said on 10 January.
“Our new energy plan balances supply and demand, and takes into consideration our international commitments in terms of the environment,” Sheikh Mohammed said in a statement. “It also seeks to ensure a conducive economic environment for growth across sectors.”
The strategy is based on expected annual growth in the country of 6%.
“Ensuring the sustainability of energy resources guarantees the sustainability of our country’s growth,” he said, adding: “He who does not think of energy is not thinking about the future.”
The strategy will be implemented in three phases:
- The first aims to accelerate the move to efficient energy consumption, ensure stable sources of energy and the diversification of energy sources
- The second aims to find new energy-efficient solutions for transportation
- The third will focus on research and development in addition to enhancing innovation and creativity in the supply of sustainable energy.
Image: UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum unveiling the strategy on 10 January 2017 (UAE government)