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DEI – UAE: Dubai goes for green economy with “Clean Energy strategy”

Dubai aims to reduce its dependence on fossil fuels, and its new “Dubai Clean Energy Strategy 2050” will accelerate the Emirate’s transition to sustainable energy. The strategy will unfold in three phases, with two intermediate objectives before 2050: 7% of energy from renewable sources by 2020 and 25% by 2030. The plan was presented during the opening of the second stage of the “Mohammed Bin Rashid Al Maktoum” solar park, the largest of its kind in the world, and capable of producing over 5,000 MW of installed power, which is equal to 25% of Dubai’s energy production. The Emirate’s shift toward the green economy is marked by a variety of initiatives. These include a new “zona franca” aimed at attracting research and development centres and emerging clean energy companies, a centre for innovation specialised in advanced energy technologies and a “Dubai Green Fund” that will offer facilitated loans to those wishing to invest in the clean energy sector.