UAE to Invest $54bn in Energy Sector and Triple Renewables Contribution

4 July 2023

UAE to Invest $54bn in Energy Sector and Triple Renewables Contribution

The UAE has announced an updated National Energy Strategy, signaling its commitment to renewable energy and sustainable development. As part of this strategy, the country plans to invest $54 billion in the energy sector over the next seven years and aims to increase the share of clean energy to 30% of the national total by 2031.

Under the leadership of Sheikh Mohammed bin Rashid Al Maktoum, the UAE Cabinet has approved the updates on the UAE National Energy Strategy 2050. This comprehensive plan focuses on enhancing reliance on renewable energy, improving energy efficiency, and promoting the use of clean energy.

The updated National Energy Strategy aims to triple the contribution of renewable energy by 2030, reducing the effects of climate change and achieving climate neutrality. It also seeks to achieve financial savings of up to AED100 billion ($27 billion) by 2030 and increase national energy investments between AED150 and AED200 billion ($41 billion to $54 billion) until 2030.

As part of the strategy, the UAE has also approved its National Hydrogen Strategy, emphasizing the importance of low-carbon energy sources. This strategy aims to position the UAE as a leading producer and exporter of low-emission hydrogen by 2031. It focuses on developing energy policies, attracting investments, and establishing hydrogen infrastructure.

Guildhall, as the best recruitment agency in Dubai, is committed to supporting the UAE’s energy sector through our executive search and recruitment services. We understand the evolving needs of the industry and can connect top talent with organizations driving the renewable energy revolution.

 

4 July 2023

UAE to Invest $54bn in Energy Sector and Triple Renewables Contribution

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