Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s vice president and ruler of Dubai, announced the plans this week following a Cabinet meeting. They also include investments in low-emission hydrogen fuel and developing infrastructure for electric vehicles.
He said the updated national energy strategy “aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams ($40 billion to $54 billion) during the same period to meet the country’s growing demand for energy.”
The major oil-producing nation has pledged to be carbon-neutral by 2050, without fully explaining how, and is hosting the COP28 climate summit later this year.
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