Over the past 15 years, the UAE has invested over US$40 billion in clean energy projects, Al Mazrouei went on to say, adding that this figure is likely to range between $150-200 billion through 2030 to ensure that the UAE's energy demand is met and maintain the sustainable growth of the country's economy.

China currently has the second largest number of nuclear plants globally comprising 56 reactors, with 20 units under construction, which will account for 10-15% of power production by 2035.

The UAE's Minister of Foreign Affairs and International Cooperation Abdullah bin Zayed Al Nahyan, France's Minister for Europe and Foreign Affairs Catherine Colonna and India's Minister of External Affairs Subrahmanyam Jaishankar agreed to establish a formal trilateral cooperation initiative last September

The UAE has an installed capacity of 42 GW (end of 2021), with 35 GW of gas, 2.8 GW of nuclear and 2.7 GW of solar.

The United Arab Emirates (UAE) also decided to invest $30bn in South Korea's industries, South Korea's presidential office said.

The UAE government has also announced that it will invest US$30bn in South Korea’s nuclear power, defense, solar, and hydrogen industries. The investment will come from sovereign wealth funds, which include the UAE’s Mubadala Investment Company.

“The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report reads.

UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the Partnership on behalf of the UAE and the US.

The UAE has expressed support for the statement by the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia regarding reviewing the status of oil markets and reducing production, noting that the decision was collective and based on the vote of OPEC+.

Overall, the planned total capacity of the MBR solar park is 5 GW, to be reached by 2030.