UAE, Saudi Arabia firm renewable energy ties
Masdar and K.A.CARE team up to develop projects across the region.
The UAE and Saudi Arabia have joined forces to develop renewable energy and clean technology sectors across the region.
Abu Dhabi-based Masdar and the King Abdullah City for Atomic and Renewable Energy (K.A.CARE) signed an agreement on Monday to jointly invest in clean energy projects and green technology investment funds.
Under the deal, they will collaborate on research and development of technologies, including solar, wind and water, the Emirates News Agency reported.
General Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attended the signing of the strategic framework agreement in Abu Dhabi.
It was signed by Dr Sultan Ahmed Al Jaber, chairman of Masdar, and Dr Hashim Bin Abdullah Yamani, President of K.A.CARE.
“Increased cooperation among GCC countries is crucial to advancing security, stability and sustainable growth throughout the region,” said Sheikh Mohamed.
“Energy is fundamental to all economic and social development. The enhanced cooperation between Masdar and K.A.CARE will contribute to extending the region’s energy leadership.”
Al Jaber said: “Masdar shares many strategic objectives with K.A.CARE. The UAE is a pioneer in deploying renewable energy and is also a major contributor to the international deployment of clean energy.
“By sharing our knowledge and experience with K A CARE, we believe that together, we can further advance the use of renewables and ensure our long term economic and energy security.”
K.A.CARE was established in 2010 with a remit to diversify Saudi Arabia’s energy sources, to include nuclear and renewables.