India and the United Arab Emirates (UAE) are forging deeper ties in the renewable energy sector, propelled by robust policy frameworks and a shared commitment to sustainability. This was revealed by the UAE-India Business Council (UIBC) and Nangia Andersen LLP report titled “Modern Energy: India-UAE Collaboration for a Sustainable Future.” This report delves into the partnership between India and the United Arab Emirates within the renewable energy domain, aiming to cultivate a sustainable future in line with the United Nations Sustainable Development Goals.
The collaborative efforts between the two nations, as highlighted in the report are poised to redefine the global energy landscape. A report also that says the UAE can collaborate with India on aiding its aim of becoming a global hub for solar photovoltaic manufacturing.
Both countries have established ambitious initiatives such as India’s National Solar Mission and the UAE’s Energy Strategy 2050, signaling a firm dedication to advancing renewable energy adoption.
The report highlights a multitude of avenues for collaboration between India and the UAE, spanning various aspects of renewable energy development. These include expanding capacities in solar and wind power, integrating advanced energy storage technologies, innovating grid solutions, and enhancing energy efficiency measures. Moreover, bilateral cooperation is advocated in emerging fields such as hybrid renewable energy systems, exploration of ocean and geothermal energy, and initiatives aimed at workforce upskilling. By leveraging each other’s strengths and expertise, India and the UAE stand poised to accelerate the transition towards cleaner and more sustainable energy systems.
The report mentions the pivotal role of renewable energy in global sustainability efforts and underlines the potential impact of India-UAE collaboration on a broader scale. Through scaling up capacities and embracing cutting-edge technologies, these nations have the opportunity to inspire others to join the journey towards a greener future. The projected growth in cumulative renewable capacity, with a Compound Annual Growth Rate (CAGR) estimated to rise from 9.24% to 15.06% between 2022 and 2028, further solidifies the significance of this partnership. Noteworthy initiatives, such as the UAE’s commitment to allocate USD 75 billion in sovereign funds to India and joint endeavors to commence solar power equipment production, exemplify the tangible steps taken towards fostering renewable energy cooperation between the two nations.
