The UAE has adopted some quick steps to say bye to its last barrel of oil and thereby achieving an equilibrium between economic development and maintaining a clean, healthy and secure environment.
Through its various strategies and ways of investment, UAE leads the global efforts in renewable and clean energy sectors. The UAE Energy Strategy 2050 shall see the country investing AED 600 billion to meet the surging energy demand and to safeguard the environmental development of the economy.
The plan seeks to attain an energy combination that combines renewable and clean energy sources to balance out economic requirements and environmental goals.
Dubai Electricity & Water Authority, DEWA, has drawn substantial investments to the UAE from the private sector and foreign banks, causing an increased cash flow to the economy of Dubai.
DEWA has enticed investments around AED 40 billion from the Independent Power Producer, IPP, model that reinforces public-private partnerships.