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ENGIE Solutions signs a memorandum of agreement with the UAE Ministry of Energy and Infrastructure. This will allow them to develop technical cooperation for the generation of clean energy projects using MoEI’s assets as well as explore other energy-related CSR initiatives. This will ultimately support the UAE’s goal of decarbonization.
The agreement was signed by the Undersecretary of the Ministry of Energy and Infrastructure for Energy (MoEI) and Petroleum affairs, H.E Eng. Sharif Al Olama, and Chief Business Development Officer for ENGIE Solutions GCC, Vincent Montanet, at the RAK Energy Summit.
The summit was organized by Ras Al Khaimah Municipality and featured industry-level speakers from energy to discuss the opportunities and challenges in dealing with climate change as well as the future of the sector.
Both sides recognize the importance to increase the percentage of renewable energy in the UAE’s energy mix and encourage innovation in this sector. The country’s renewable energy development offers many benefits, including economic growth, job creation, energy independence and security, as well as national security and a reduction in greenhouse gas emissions.
H.E Eng. Sharif Al Olama said, “Developing renewable energy fulfils numerous national priorities, including helping tackle carbon emissions, create new high-tech jobs and inspire innovation. As the ministry in charge of energy development, we have an important role in developing the renewable energy sector. This project adds to UAE’s growing capabilities in the renewable sector; the UAE already hosts the largest single-site solar park in the world based on the independent power producer model. We will continue to pursue such projects in line with UAE’s renewable energy goals.”
Ian Harfield, CEO of ENGIE Solutions GCC said, “We are keen to support the UAE and the rest of the region’s transition to new means of energy sources and mobility. Our latest partnership with the UAE Ministry of Energy and Infrastructure extends our partnership with regional governments to support green energy and mobility projects. Such projects will positively impact the region’s challenges while fostering innovation in the clean energy sector.”
Slowly, the Middle East is shifting towards green energy and sustainable energy solutions to combat global warming. Through the UAE Net Zero by 2050 Strategic Initiative, UAE is aiming to reduce its emissions by 2050. Since its inception 15 years ago, the UAE has invested more than US$40 million in clean energy projects. According to current trends, clean energy production capacity (including nuclear and solar) will reach 14 GW by 2030. This is an increase of 100 MW in 2015 to 2.4GW in 2020.