World Future Energy Summit highlights the need for faster energy transition

Solar and clean energy was in the spotlight on the second day of the World Future Energy Summit, where industry stakeholders discussed solutions to advance renewable energy solutions.

H.E. Eng. Sharif Al Olama, Undersecretary for Energy & Petroleum Affairs at the UAE’s Ministry of Energy & Infrastructure, spoke about the future of clean energy systems in the country. In his keynote speech, he underlined the steps the UAE has taken to accentuate the clean energy transition.

"Today, we proudly boast three of the world's largest and most cost-effective solar plants," he said, adding that “Additionally, the Barakah nuclear energy plan plays a critical role in diversifying our energy measures, providing up to 25% of the UAE’s electricity needs.”

The country’s national hydrogen strategy was marked with the goal of positioning the UAE as a key producer and exporter of low-carbon hydrogen.

“The strategy helps accelerate the global hydrogen economy and will scale up local hydrogen production to 1.4 million tons per annum by the year 2031 and 15 million tons per annum by the year 2050.”

At the same time, the UAE’s energy strategy 2050 aims to triple the contribution of renewable energy in the country. “It aims to invest between US$40bn and US$55bn by the year 2030 to meet the country’s increasing demand for energy as a result of a rapidly growing economy.”

H.E. Eng. Sharif Al Olama, Undersecretary for Energy & Petroleum Affairs at the UAE’s Ministry of Energy & Infrastructure highlighted the urgency of transformative action in the energy sector.

“Achieving meaningful form of progress in the clean energy transition requires the mobilisation of resources and investments in renewable energy for projects at both national and global levels.

“Strategic investments are essential for reducing emissions and strengthening the resilience of energy systems worldwide.”