UAE plans to invest $163 billion in renewable energy development

    Recently, the United Arab Emirates, one of the world's major oil-producing countries, has once again accelerated the pace of transition to clean energy. The country announced that it will increase investment in renewable Solar Home Kit energy, investing at least 600 billion dirhams (about 163 billion US dollars) in renewable energy by 2050, and will achieve net zero greenhouse gas emissions.

    It is understood that the UAE is currently one of the top ten oil producers in the world, and this commitment makes the UAE the first OPEC member to commit to net-zero emissions.

    Promote the development of renewable energy

    According to multiple foreign media reports, UAE Prime Minister Mohammed bin Rashid Al Maktoum said that the UAE hopes to become the first economy in the Gulf region to commit to full decarbonization. “We will seize the opportunity now to strengthen our leadership on climate change in the Gulf and take advantage of this critical economic opportunity to drive development, growth and new jobs. In the future, our economy and our country will be fully transformed Net zero emissions.”

    Later, he also said on social media: "The UAE's future national development model will take into account the zero carbon goal, and all institutional businesses will cooperate to achieve this goal."

    According to the official data of the UAE government, in the past 15 years, the UAE has invested a total of 40 billion US dollars in the field of clean energy, and has cooperated and invested in various clean energy projects in 70 countries around the world.