In order to keep pace with the accelerating economy, UAE (United Arab Emirates) has approved the ‘updated UAE National Energy Strategy’. It aims to triple the contribution of the renewable energy over the next 7 years, and invest AED150 to AED200 billion during the same period to meet the country’s growing demand for energy.
Speaking at the Cabinet meeting Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, said, “Today, I chaired the Cabinet meeting in Qasr Al Watan, in Abu Dhabi, where we adopted under the directives of the President Sheikh Mohamed bin Zayed, the establishment of the Ministry of Investment and appointed Mohamed Hassan Al Suwaidi as the minister. Our aim is to develop the investment vision of the UAE, and promote the investment environment and the competitiveness of this sector in the country.”
He further added,“ We also approved the National Hydrogen Strategy, which has recently emerged as one of the most important types of clean energy. The strategy aims to promoting the UAE’s position as a producer and exporter of low-emission hydrogen over the next eight years through the development of supply chains, the establishment of hydrogen oases and a national research and development centre.”
Sheikh Mohammed bin Rashid ,informed, “ We approved the National Electric Vehicles Policy which aims to build a national network of electric vehicle chargers, organising the market of electric vehicles, promoting associated industries to ensure lower emissions, lower energy consumption and maintain the quality of roads.”
Talking about the Chinese firm WeRide, he added, “We also adopted the first national preliminary approval for autonomous vehicle in the UAE for WeRide company. The company will begin testing all types of autonomous vehicles in the country, reflecting a change in the country’s future mobility patterns.”
Ministry of Investment is being established that will support the UAE’s business objectives, and investments policies and promoting its world-class infrastructure, as a global platform to attract investments in various sectors.
The recent updated National Energy Strategy 2050, will focus on increasing reliance on renewable energy, improving energy efficiency and promoting the use of clean energy. Also, research and development programmes in energy technologies will be set up, in addition to encouraging innovation and investment in energy sector. It further focus on strengthening the country’s capacity to provide clean and sustainable energy and providing new investment opportunities in renewable energy. Also, supporting efforts to strengthen cooperation with international partners to achieve sustainability goals in the energy sector.
“The strategy’s objective is to achieve up to AED100 billion financial savings by 2030, and increase national energy investments between AED150 – 200 billion until 2030, in addition to raising the share of clean energy in the total energy mix to 30 percent by 2031,”said the statement.
