UAE has allocated more than $750 million to UN programmes to help develop alternative energy sources
In a span of just a few years, the United Arab Emirates has become one of the top hubs in the world when it comes to the production and development of alternative energy sources. This was highlighted with the establishment of Masdar City. It was also showcased when the UAE won the rights to become the host of the International Renewable Energy Agency.
Now, the UAE has transformed into a global center which makes effective contributions to the financing and production of alternative energy products. At the same time, it is aiding in the research and development of technologies associated with this sector and that brings about a reduction in the costs of production.
The strategy of the UAE with respect to alternative energy is based on 2 primary pillars.
The first of those pillars is to ensure local development of alternative energy sources so that they end up fulfilling 50% of its energy needs by the year 2050. This will be done through the implementation of several projects. One of those is to use nuclear power to generate electricity.
Dubai is soon going to welcome the biggest concentrated solar power plant in the world. There are other projects in the various emirates in different stages of implementation. This is enough to make the UAE the third nation in the world in terms of concentrated solar energy production.
The other of those two pillars is to assist other nations in the development of projects that can utilize alternative energy. UAE even helps advanced economies like Spain, Australia and the United Kingdom. These countries have signed with the UAE a cooperation agreement in the fields of alternative energy and environment protection.
At the same time, the UAE has been helping develop the projects in countries like Oman and Jordan via UN programs or through bilateral cooperation.