Qatar has emerged as a leader with $75 billion investment opportunity in the cleantech industry by 2030. This was revealed in a report by Qatar’s Investment Promotion Agency.
Citing the factors that helped Qatar to lead in this sector, it said that favourable government policies, advanced tech infrastructure, sustainability initiatives, abundant natural resources, and early-mover advantage in green hydrogen production have provided an impetus to the country to emerge as a leader in the cleantech industry.
Besides, Qatar is also witnessing collaborations and JVs to move ahead in hydrogen production, which is essential to decarbonise hard-to-abate sectors, given its abundant solar energy resources.
The report also highlighted QatarEnergy’s announcement to construct the world’s largest $1 billion blue ammonia plant, scheduled to open by 2026, to produce 1.2 million tons annually. The plant is projected to support Qatar’s efforts to develop carbon capture and storage facilities to isolate as much as 11 million tons of carbon dioxide annually by 2035.
In addition, with its Sustainability Strategy, Qatar Energy aimed at reducing the carbon intensity of its liquified natural gas facilities by 35 percent by 2030.
In pursuit of guidelines by World Health Organization Qatar is taking efforts to reduce greenhouse gases, preserve land, and enhance biodiversity to improve indoor air quality. One such example is the construction of Lusail City, the leading sustainable city in the country. Also, the nation is developing network of metro lines powered by green energy.
It may be recalled that FIFA World Cup in 2022 was first of its kind carbon-neutral event where it used solar-powered stadiums including cooling and lighting technology.