Dubai, located in the United Arab Emirates, has announced an ambitious plan to increase the share of renewable energy in its energy mix.
Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, recently announced the launch of Dubai Clean Energy Strategy 2050 — a long-term plan that will see a sharp increase in the share of renewable energy in Dubai’s energy mix over the next 30 years.
The Dubai Clean Energy Strategy 2050 plan envisages a total investment of $163 billion over the next three decades. If implemented successfully, the plan will put renewable energy at the top of Dubai’s energy mix.
By 2050, Dubai targets 44% energy from renewable energy sources, 38% from gas, 12% from ‘clean fuels’ and 6% from nuclear energy. The plan also aims to increase energy efficiency by 40% by 2050.
Of the total planned expenditure under the plan, around 25% will go directly toward renewable energy sectors. Just over $27.2 billion in investments has been earmarked for a Green Fund, while $13.6 billion will be invested to further expand the Mohammad Bin Rashid Al Maktoum Solar Park.
The solar power park will now be increased to a capacity of 5 gigawatts. The initial planned capacity was 1 gigawatt which was subsequently increased to 3 gigawatts, and now 5 gigawatts. Bids of the first 1 gigawatt of capacity have already been awarded.
Under the Dubai Clean Energy Strategy, the Emirate aims to achieve 7% share of clean energy sources in the total energy mix, which is scheduled to be increased to 25% by 2030 and 75% by 2050.