UAE Plans to Invest $54 Billion in Renewables in Net Zero Push

Government to focus on hydrogen as main source of clean energy
Prime minister names Mohamed Alsuwaidi as investment minister

WATCH: UAE Energy Minister Suhail Al Mazrouei discusses reneweable energy targets and the outlook for oil production.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Abeer Abu Omar

July 3, 2023 at 1:25 PM UTC

This article is for subscribers only.

The United Arab Emirates plans to invest as much as $54 billion on renewables over the next seven years as part of efforts to reach net zero emissions by 2050.

The nation is targeting a threefold increase in the share of energy produced from renewable sources over the period and will focus on hydrogen as a source for clean power, UAE Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid said in a tweet.