The United Arab Emirates and the US sign a partnership to accelerate $100 billion in renewable energy investments


UAE

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

Chairman of the Abu Dhabi Executive Office; His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Special Counsel to the Presidential Court; Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Authority and Member of the Executive Council; Yousef Manea Al Otaiba, UAE Ambassador to the United States; and Brett McGurk, US Homeland Security.

Looking ahead to the COP27 in Egypt next month and the COP28 in the UAE in next year, both countries will work together to advance their shared vision that the fastest and most reliable path to net zero requires accelerated investment in technology and clean energy resources. Both countries recognize that a rapid, sustainable and well-managed energy transition is critical to the success of climate action and to improving global energy security and affordability.

Building on five decades of energy cooperation and partnership, the United Arab Emirates and the United States established PACE to promote practical initiatives and promising technologies that can accelerate the energy transition. It will bring together and stimulate public and private sector financing and support in four priority areas: clean energy innovation, financing, delivery and supply chains; carbon and methane management; advanced reactors, including small modular reactors (SMRs); and decarbonizing industry and transport

The United Arab Emirates, a global leader in the energy transition, has invested more than $50 billion in clean energy technologies and solutions worldwide over the past decade, and three of the projects built larger and lower much cost. in the world. The UAE Peaceful Nuclear Power Program further emphasizes the UAE’s energy diversification strategy.



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