UAE's clean energy investments surpass Dh45 billion

Suhail bin Mohammed Al Mazrouei, the UAE Minister of Energy and Infrastructure, has announced major advancements in the country’s clean energy sector. As of 2023, clean energy now constitutes 27.83 percent of the UAE’s total energy mix, bringing the nation closer to its 32 percent target by 2030.

“From 2019 to 2022, the UAE has succeeded in doubling its renewable energy capacity as part of the UAE Energy Strategy to triple the installed capacity by 2030, towards our commitment to achieve the energy transition targets as per the UAE Consensus at COP28”, Al Mazrouei said.

He highlighted the UAE’s remarkable growth in renewable energy, noting a 70 percent increase in installed capacity, which now stands at 6.1 GW.

“We achieved a quantum leap from sixth to second place in the indicator of per capita energy consumption from renewable energy sources in the latest Statistical Review of World Energy prepared by the Energy Institute", he added.

Al Mazrouei also shared insights into the UAE’s investment in clean energy projects. “The total value of our completed new and renewable energy projects is estimated at over Dh45billion. This figure doesn’t even include the value of the latest projects that are now up and running.” Among these projects are the 1.8 GW Phase VI of the Mohammed bin Rashid Al Maktoum Solar Park, the second phase of Dubai’s waste-to-energy project, and two major photovoltaic projects in Abu Dhabi: the 1.5 GW Al Ajban and the 1.5 GW Al Khazna. Additionally, the hydroelectric power plant in Hatta, Sharjah, and the fourth reactor at the Barakah plant are expected to make significant contributions.

Looking ahead, Al Mazrouei emphasized the importance of the World Utilities Conference 2024, starting tomorrow in Abu Dhabi.

“The conference will showcase cutting-edge technologies and innovative solutions to tackle sustainability and water security challenges, boosting both national and international efforts toward sustainable development and reinforcing the UAE’s crucial role in shaping the future of energy and water.”

On ADNOC’s role in the UAE’s climate strategy, Al Mazrouei said, “ADNOC is at the forefront of adopting carbon capture and storage technologies, aiming to achieve climate neutrality by 2045. As part of this commitment, ADNOC plans to double its carbon capture capacity to 10 million tonnes annually by 2030.”

The UAE’s leadership in green hydrogen was also highlighted.

“The UAE has secured the top spot in green hydrogen production competitiveness according to the Green Hydrogen Report 2024 by Alvarez & Marsal. Additionally, it ranks first in hydrogen market readiness in the Middle East and North Africa, as recognised in the World Economic Forum’s Enabling Measures Roadmap for Low-Carbon Hydrogen 2023.”