UAE is set to invest USD35b in clean energy by 2021

05 Oct 2015

(MENAFN) The United Arab Emirates plans to invest USD35 billion in clean energy by 2021 as it seeks to reduce its dependence on fossil fuels following crude’s global price slide.

“By 2021, our investments in nuclear and solar projects will reach USD35 billion,” UAE’s Energy Minister said in a statement at an energy conference held in Abu Dhabi.

He said that the UAE’s four nuclear reactors currently under construction will, once operational, “provide 24-25 percent of electricity consumption in the country”.

An international consortium led by Korea Electric Power Corp won a contract in 2009 worth more than USD20 billion to build the four 1,400-megawatt reactors at Baraka, west of Abu Dhabi.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more