COP28 host the United Arab Emirates said it will aim to triple its renewables base by 2030 backed by $54bn of investments.
The UAE, which presented an updating energy strategy stressing clean energy and hydrogen, will host the global climate summit later this year in Dubai, amid controversy over the involvement of the oil-rich state in steering global climate policy.
Sultan Ahmed Al Jaber, the UAE’s minister of industry and advanced technology, who is due to act as COP28 president, told reporters: “Over the last decade, the UAE has increased renewable energy capacity more than any other country in the world, and by 2030 aims to more than triple this capacity again to reach a total of 14.2GW.”
The wider strategy will open up new opportunities to invest in renewables, UAE officials said.
The UAE is already home to the vast Mohammed bin Rashid Al Maktoum Solar Park, which is due to hit 5GW of capacity by the end of the decade.
Abu Dhabi-based Masdar, the global renewables developer, has a target to amass a 100GW gross portfolio of renewables, up from around 20GW now, and to be producing one million tonnes of green hydrogen, by 2030, totals that would put it right in the front rank of global clean energy players. Longer term its renewables ambitions swell to 200GW.