Mohammed bin Rashid unveils UAE Energy Strategy for the next three decades

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has unveiled the UAE’s energy strategy for the next three decades. The strategy aims to increase the contribution of clean energy in the total energy mix to 50%, which will enable savings of AED700 billion by 2050. The strategy, which was announced in the presence of Crown Prince of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, also aims to increase consumption efficiency of individuals and corporates by 40%.

Sheikh Mohammed also revealed that the UAE Energy Plan 2050 is targeting an energy mix that combines renewable, nuclear and clean energy sources to achieve the UAE’s economic needs and environmental goals. His Highness also said that the UAE aims to invest AED600 billion by 2050 to meet growing demand and ensure the sustainable growth of the UAE economy.

“Our new energy plan balances supply and demand, and takes into consideration our international commitments in terms of the environment. It also seeks to ensure a conducive economic environment for growth across sectors,” His Highness said while launching the UAE Energy Strategy 2050. The plan is a joint effort of all energy-related authorities and all executive councils in the UAE, and was developed under the supervision of the federal government represented by the Ministry of Energy, and the Ministry of Cabinet Affairs and The Future.

“The new strategy takes into consideration an expected annual growth of 6%, and efforts to increase the contribution of clean energy in the energy mix from 25% to 50% by 2050, apart from the reduction of the carbon footprint resulting from power generation by 70% over the next three decades,” His Highness said. “Ensuring the sustainability of energy resources guarantees the sustainability of our country’s growth. Drafting the first unified energy strategy in the country based on supply and demand is a significant achievement of the government. He who does not think of energy is not thinking about the future,” His Highness further said.

“The Gulf countries are similar in their economic structure, and we hope that we will one day have a unified GCC energy strategy in order to ensure sustainable growth for our people and global influence for our economies,” His Highness added.

The launch of the Strategy was attended by President of Dubai Civil Aviation Authority and CEO and Chairman of the Emirates Group HH Sheikh Ahmed bin Saeed Al Maktoum; Cabinet Member and Minister of Cabinet Affairs and The Future HE Mohammad bin Abdullah Al Gergawi; Cabinet Member and Minister of Energy HE Suhail bin Mohammed Faraj Al Mazrouei; Cabinet Member and Minister of State Sultan bin Ahmad Al Jaber, apart from a number ministers and senior officials.

The equation targeted by the 2050 strategy is as follows: 44% clean energy, 38% gas, 12% clean coal and 6% nuclear. The strategy also aims to change the energy consumption culture by slashing residential energy consumption by 40%.

The strategy will be implemented in three phases: the first aims to accelerate the move to efficient energy consumption, ensure stable sources of energy and the diversification of energy sources, while the second aims to find new energy-efficient solutions for transportation. The third will focus on research and development in addition to enhancing innovation and creativity in the supply of sustainable energy.

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