The UAE Ministry of Energy and Infrastructure (MoEI) and ENGIE Solutions have signed a memorandum of understanding (MoU) to develop technical cooperation in generating clean energy projects on MoEI's assets and exploring other energy-related CSR initiatives, which will help the UAE reach its decarbonisation goals.

The MoU was signed at the RAK Energy Summit by H.E Eng. Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, and Vincent Montanet, Chief Business Development Officer for ENGIE Solutions GCC. 

The summit, organised by Ras Al Khaimah Municipality, featured industry-level speakers from the energy sector to explore the challenges and opportunities in dealing with climate change, as well as the energy sector's future.

Both parties understand the significance of expanding the share of renewable energy in the country's energy mix while encouraging sector innovation. Renewable energy development in the country has many advantages, including economic growth and job creation, energy security and independence, national security, and reduced greenhouse gas emissions.

H.E Eng. Sharif Al Olama said: 

“Developing renewable energy fulfills numerous national priorities, including helping tackle carbon emissions, create new high-tech jobs and inspire innovation. As the ministry in charge of energy development, we have an important role in developing the renewable energy sector. This project adds to UAE’s growing capabilities in the renewable sector; the UAE already hosts the largest single-site solar park in the world based on the independent power producer model. We will continue to pursue such projects in line with UAE’s renewable energy goals.”

Ian Harfield, CEO for ENGIE Solutions GCC said: 

“We are keen to support the UAE and the rest of the region’s transition to new means of energy sources and mobility. Our latest partnership with the UAE Ministry of Energy and Infrastructure extends our partnership with regional governments to support green energy and mobility projects. Such projects will positively impact the region’s challenges while fostering innovation in the clean energy sector.”

To combat global warming and diversify energy sources, the Middle East is gradually transitioning to green energy and sustainable alternatives. Through the UAE Net-Zero by 2050 Strategic Initiative, the UAE strives to achieve net-zero emissions by 2050. More than 15 years ago, the country began financing sustainable energy projects and invested more than US$40 billion in the sector. 

According to current projections, clean energy production capacity, including solar and nuclear, will reach 14 GW by 2030, up from around 100 MW in 2015 and 2.4 GW in 2020.

Source: Zawya

For more social and governance news