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GCC to fetch USD200b by 2030 from clean energy projects

24 Dec 2012

(MENAFN) The International Renewable Energy Agency (IRENA) announced that renewable energy integration could generate USD200 billion by 2030 for countries of the Gulf Cooperation Council (GCC), reported Xinhua News.

The Abu Dhabi-based agency said that these countries continued to set up ambitious clean energy projects that are sustained by pioneering research, development and investment.

At the current time, the GCC has 30 clean energy projects, either in planning stage, or under construction or have been finished.

The GCC 6 countries, Kuwait, Bahrain, Oman, the UAE, Saudi Arabia and Qatar, plan to diversify their sources of energy and to slash their dependence on oil and gas.

It is worth noting that the GCC region holds nearly 60 percent of the world’s known oil reserves.

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