The United Arab Emirates (UAE) and the US signed a partnership to spur $100 billion of investments in clean energy projects and add 100 gigawatts of clean energy globally by 2035, state news agency WAM reported on Tuesday.
The partnership was agreed during the ADIPEC 2022 Exhibition & Conference in Abu Dhabi where over 1,200 global policy makers, energy CEOs and industry professionals convened to discuss key trends shaping the future of energy.
The parties will work to support economically and environmentally beneficial sustainable energy projects in developing countries by providing technical expertise, project management assistance and financing.
‘Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world and in emerging economies,’ US energy envoy Amos Hochstein said in a statement in WAM.
‘The energy transition needs a realistic, practical and economically viable plan to deliver climate progress together with energy security and inclusive economic growth,’ Sultan Al Jaber, UAE minister of Industry and Advanced Technology and Special Envoy for Climate Change, said in the statement.
The UAE has invested more than $50 billion in clean energy technologies and solutions worldwide over the past decade.
