2020-11-05 12:00:00
UAE CLEAN ENERGY INVESTMENT $23 BLN
MECN - November 3, 2020 - Dubai Electricity and Water Authority (DEWA), which has drawn considerable investments to the UAE from the private sector and foreign banks, says that it plans to invest $23.4 billion in the energy sector over the next five years.
In an International Renewable Energy Agency report released earlier this year, DEWA said that it has attracted investments worth approximately $10.8 billion from the Independent Power Producer (IPP) model, which strengthens public-private partnerships. Through this model, DEWA has been able to receive the lowest global solar energy prices for five consecutive times, making Dubai a global benchmark for solar energy pricing.
The UAE's 2050 Energy Strategy aims to achieve an energy mix that combines renewable and clean energy sources to balance economic requirements and environmental goals. The UAE will invest $163.3 billion until 2050 to meet the growing energy demand and ensure the sustainable growth of the economy, it added.
"The Eight Principles of Governance in Dubai show that Dubai's growth is driven by three factors: a credible, resilient and excellent government; an active, fair and open private sector; and public and government-owned flagship companies that compete globally and move the economy locally," said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
"In light of the ambitious vision and the overall development of Dubai, which it translates into major projects and promising opportunities, especially in energy, water, and the environment; cooperation and integration between the public and private sectors have become the foundation to achieve the Emirate's ambitions.
"This partnership consolidates its position as a developed model that provides a highly supportive environment for investments. We have strategic partnerships with many international companies, especially in the renewable and clean energy sector and cooperate with international companies in implementing projects of the Mohammed bin Rashid Al Maktoum Solar Park based on the IPP system.
"We have attracted investments estimated at AED40 billion through this model, which strengthens the partnership between the public and private sectors. Through this model, Dewa has achieved world records in obtaining the lowest prices for solar energy projects five times in a row. Dubai has become a benchmark for solar energy prices worldwide," he added.
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Earlier:
2020, November, 3, 13:00:00
RENEWABLE ENERGY FOR UAE
Strategic planning for a sustainable future Renewable energy is an essential requirement for sustainability and stands at the forefront of the UAE’s strategic priorities.
2020, October, 26, 13:35:00
U.S., UAE STRATEGIC COOPERATION
To coincide with the first meeting of the new United States-United Arab Emirates Strategic Dialogue, U.S. Secretary of Commerce Wilbur Ross announced the Department is working to conclude two memorandums of understanding with Emirati government agencies promoting foreign direct investment, innovation, and entrepreneurship as well as the expansion of the International Trade Administration’s (ITA) Digital Attaché Program to Dubai, UAE.
2020, October, 20, 15:25:00
THE NEW NUCLEAR POWER
Bangladesh, Belarus, Egypt, Turkey and the UAE are among the nuclear newcomers, while Kenya, Ghana, the Philippines and Uzbekistan are "seriously considering" joining their ranks, Grossi said.
2020, October, 6, 15:35:00
UAE OIL PRODUCTION DOWN
UAE, the OPEC producer pumped 2.693 million b/d in August, 103,000 b/d above its quota of 2.590 million b/d under the OPEC + supply accord, and a rise of 293,000 b/d from what the country reported in July, when its cap was 2.446 million b/d.
Chronicle:
2022, August, 12, 08:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
2022, August, 12, 08:43:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia.
The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
2022, August, 12, 08:42:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023
Link to the Congress website: https://bit.ly/3tXVmr7
2022, August, 12, 08:40:00
GERMANY'S HARD WINTER
With nearly half of German homes relying on gas for heating, the country faces potential rationing if it fails to secure sufficient reserves.
2022, August, 12, 08:35:00
LIMITED RUSSIA SANCTIONS
Russian oil production in July was only 310,000 b/d below prewar levels, a fall of less than 3 per cent, while total oil exports were down about 580,000 b/d, according to the IEA’s latest monthly oil report.
2022, August, 12, 08:30:00
BRITAIN'S HARD WINTER
Under the government’s latest “reasonable worst-case scenario,” Britain could face an electricity capacity shortfall totaling about a sixth of peak demand, even after emergency coal plants have been fired up, according to people familiar with the government’s planning.
2022, August, 12, 08:25:00
GLOBAL LNG UNCERTAINTY
The money lost is dwarfed by enormous profits both BP and Shell recorded this year on the back of soaring refining margins and high oil and gas prices.