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UAE to invest $163bn in sustainable energy until 2050

Dubai’s objective is to be the city with the lowest carbon footprint in the world by 2050

A new report from Dubai Electricity and Water Authority (DEWA) has announced that the UAE will invest $163 billion until 2050 to meet the growing energy demand and ensure the sustainable growth of economy in the country. The UAE Energy Strategy 2050 is an initiative that aims to balance the country’s economic needs with renewable and clean energy sources.

The Dubai Clean Energy Strategy 2050 is another initiative that supports the sustainable development of the emirate, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

DEWA said in a statement that Dubai has become an international pioneer in developing the clean and renewable energy sector. This is done while rationalising consumption and finding alternate solutions to conventional energy.

The initiative aims to provide 7 per cent of Dubai’s total power output from clean energy by 2020, which will increase to 25% by 2030 and will further increase to 75% by 2050. DEWA claims that Dubai is the only city in the region to have launched such a strategy with set goals and timelines that map the future of energy until 2050.

HE Saeed Mohammed Al Tayer MD & CEO of DEWA said: “We are working to achieve the ambitious vision of our wise leadership within the framework of federal and local strategies, including the UAE Vision 2021, the UAE Centennial 2071, and Dubai Plan 2021.”

He remarked that the Mohammed bin Rashid Al Maktoum (MBR) Solar Park is one of the key projects to see considerable interest from international developers, reflecting their confidence in the projects that are supported by Dubai Government. It is also one of the projects that supports the vision of Dubai having the lowest carbon footprint by 2050.

DEWA said in the statement that meeting the Dubai Clean Energy Strategy 2050 targets, requires a capacity of 42,000 MW of clean and renewable energy. Of which, it currently has more than 4000 MW of IPP projects completed and under implementation in partnership with the private sector, with investments of more than $8 million.

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