$163bn spend on renewables
01 April 2019
The UAE will invest Dh600 billion ($163 billion) until 2050 to meet the growing energy demand and ensure the sustainable growth of the economy, said the Dubai Electricity and Water Authority (Dewa) in a new report.
The UAE Energy Strategy 2050 aims to achieve an energy mix that combines renewable and clean energy sources to balance economic requirements and environmental goals, whereby seven per cent of Dubai’s total power output is expected to come from clean energy by 2020. This target will increase to 25 per cent by 2030 and 75 per cent by 2050.
The strategy consists of five main pillars: infrastructure, legislation, funding, building capacities and skills, and having an environment-friendly energy mix. The infrastructure pillar includes initiatives such as the Mohammad bin Rashid Al Maktoum Solar Park, which is the largest single-site solar energy project in the world, with a planned total production capacity of 5,000 megawatts (MW) by 2030, and a total investment of Dh50 billion.
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