UAE's clean energy investments exceed Dh45 billion

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that the UAE has made significant progress in increasing the contribution of clean energy production to the total energy mix, reaching 27.83 per cent in 2023, within the target of 32 per cent 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 added: “In 2023, the UAE achieved a remarkable growth of 70 per cent in installed renewable energy capacity, which reached 6.1 GW, and made progress in renewable energy competitive indicators, including: Achieving 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.”

Al Mazrouei remarked on the UAE’s commitment to fostering investment in clean and renewable energy: “The total value of our completed new and renewable energy projects is estimated at over AED45 billion. This figure doesn’t even include the value of the latest projects that are now up and running.”

He elaborated on the progress of the UAE Energy Strategy 2050, highlighting several key renewable and clean energy projects currently underway and on the horizon. These include the impressive 1.8 GW Phase VI of the Mohammed bin Rashid Al Maktoum Solar Park, the innovative second phase of Dubai’s waste-to-energy project, and two major photovoltaic projects: the 1.5 GW Al Ajban and the 1.5 GW Al Khazna, both in Abu Dhabi. Additionally, the hydroelectric power plant in Hatta, Sharjah and the recently commissioned fourth reactor at the Barakah plant are set to make significant contributions.

Suhail Al Mazrouei highlighted that the World Utilities Conference 2024, starting tomorrow in Abu Dhabi, is a key event for sharing expertise and insights with global utility experts. 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.

He noted that Adnoc’s carbon management projects are pivotal in the UAE’s climate strategy. 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.

He highlighted that 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.

He added, “The Ministry’s new policy aims to cut energy and water use in federal buildings by 25 per cent and operational costs by 20 per cent. Backed by Dh500 million from private sector and energy service companies, it covers 422 government buildings.”