Maligned COP28 host UAE to spend $US54bn push to triple renewables by 2030

The United Arab Emirates says it plans triple its renewable energy capacity by the end of the decade, targeting green hydrogen production in a $US54 billion investment plan

According to announcements made by the UAE’s prime minister and Dubai ruler Sheikh Mohammed bin Rashid as well as Sultan Ahmed Al Jaber, the UAE’s minister of industry and advanced technology, the country is targeting a tripling of its renewable energy capacity.

Sultan Ahmed Al Jaber, who is due to act as the president of the COP28 climate talks in the UAE later this year claimed the UAE has increased renewable energy capacity “more than any other country in the world” in the past decade.

Most of its renewable energy capacity is hosted in the Mohammed bin Rashid Al Maktoum Solar Park, which is already the world’s largest at 2.5GW, and is due to reach 5GW of capacity by 2030.

Al Jaber said that by 2030, the UAE “aims to more than triple” its current renewable capacity to reach a total of 14.2GW, and intends will focus on hydrogen exports. The $US54 billion figure seems high for that much new capacity.

“By building on our expertise in the energy sector and exporting hydrogen, the UAE will play a critical role in speeding up the decarbonization of the global economy,” said Al Jaber.

“The world must double its hydrogen production by 2030 and the UAE is committed to leading by example as we prepare to host COP28.”

The UAE’s hosting of the COP28 has been widely criticised because it is one of the biggest exporters of fossil fuel in the world. The summit is set to be held between November 30 and December 12.