Leading oil-producing nation pledges to meet new renewable power target by 2020
The nation with the world’s fifth-largest oil reserves yesterday committed to sourcing 7% of its energy from renewables by 2020. The UAE is understood to be examining solar, wind and geothermal to get to its target.
The Middle East holds 8% of the world’s oil reserves but has broken the OPEC deadlock on renewables.
Sultan Al Jaber, chief executive of Masdar, the state-owned developer of zero-carbon scheme Masdar City, said it was natural to move into renewables sector. He said Masdar would: “provide a comprehensive solution to the world’s energy challenges and maintain Abu Dhabi’s position as a leading supplier of energy to the world”.
It is believed that Prince Charles has had a hand in proceedings. He has been encouraging the rest of the royal family to take up the green agenda and invited Masdar executives to Buckingham Palace last year. He is a patron of the scheme.
Masdar has links with Germany’s E.ON and DONG energy of Denmark.