UAE to spend AED600 billion on sustainable energy until 2050

In a new report, Dubai Electricity and Water Authority (DEWA) said that the UAE will be investing AED 600 billion ($163 billion) on sustainable energy until 2050, to meet the growing energy demand and ensure the sustainable growth of the economy.

Dubai has taken multiple initiatives towards diversifying its economy away from its dependence on oil and is pioneering the development of clean and renewable energy sources. It has invested and supported the development of techniques and practices that make the energy sector more efficient, along with rationalising consumption and finding alternative energy solutions.

After many such initiatives that tested the waters of renewable energy, H.H. Sheikh Mohammed bin Rashid Al Maktoum announced the Dubai Clean Energy Strategy 2050. The plan is the first of its kind to map out the city’s journey towards renewable resources with set goals and timelines.

The strategy aims to provide 7 percent of Dubai’s total power output from clean energy by 2020, which will increase to 25 percent by 2030, and 75 percent by 2050. One of the most promising ventures to realise this vision is the Mohammed bin Rashid Al Maktoum Solar Park—the largest single-site solar energy project in the world. It has a planned production capacity of 5,000 megawatts by 2020 and a total investment of AED 50 billion.

Read more about it here.