UAE renewable investment to hit $100bn
Next decade to see major investment in UAE alternative energy sources
Private sector investment in UAE-based alternative energy projects will reach $100 billion by 2020, the economy ministry has announced.
In a statement released to the press, the ministry said: “Investment opportunities in the market for alternative and sustainable energy projects that can be invested by the private sector in the UAE will be around $100 billion by 2020”.
Huge predicted increases in energy use over the next decade have prompted authorities to bring a drive on renewable development into sharper focus, with DEWA, Dubai’s power and water authority, anticipating a seven per cent rise in energy demand in the last year alone.