UAE and US sign $100 billion clean energy projects

According to the latest report, the United States and the United Arab Emirates announced the signing of a new clean energy framework agreement called the Partnership for Accelerated Clean Energy (PACE).

Moreover, the agreement is an important step in accelerating collective action toward clean energy, and it will lead to $100 billion in financing to accelerate the goal of deploying 100 gigawatts of clean energy by 2035.

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The agreement will prioritize sustainable energy projects in developing and low-income countries, providing technology, project management, and financial assistance. In addition, the agreement will focus on promoting green mining and investments in the production of minerals and materials critical to the energy transition.

Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change, said in the statement: “The energy transition requires a tangible and economically viable plan for climate progress, energy security, and inclusive economic growth. ”

It is reported that although the UAE is one of the world’s major oil exporters, it is also investing heavily in non-fossil fuel energy, including the world’s largest single solar power plant and the first nuclear power plant in the Arab region.

(via)