UAE to offer USD100b in alternative energy opportunities
12 Jul 2011
(MENAFN) The UAE’s economy ministry said Monday that the UAE would offer USD100 billion until 2020 of private sector investment opportunities in alternative energy, reported Arabian Business.
The energy ministry statement, which was disseminated at a media convention, said that 50 percent of investment opportunities would be for bio-fuels and other alternative energy sources, 30 percent would be for urban development, and the remaining 20 percent would be for water recycling
In March, Dubai Electricity and Water Authority (DEWA) said that Dubai’s energy use would likely increase by between six and seven percent this year compared to 2010.
The UAE produces 2.5 million barrels daily, the third most in the world, and consumes approximately five million liters daily.