Why this is important to Wisconsin businesses: The nation is a leader in the Middle East in adopting renewable energy, and Wisconsin companies can form partnerships to apply their expertise to green power projects.
The United Arab Emirates (UAE) is taking a leadership role in investing in renewable energy.
Although UAE has the seventh-largest proven oil reserves and the seventh-largest natural gas reserves in the world, it is moving ahead with renewables to diversify its energy mix and its economy. UAE has announced a Net Zero by 2050 strategic initiative—the first of any Middle Eastern country to do so, according to the UAE Embassy in Washington, D.C.
More than three-fourths (77%) of the renewable energy capacity already available within the Gulf Cooperation Council nations (Oman, Bahrain, Kuwait, Qatar, Saudi Arabia, and UAE) emanates from UAE. The vast majority comes from solar power. UAE has three of the world’s largest solar plants and is building more. Later this year, the country plans to initiate a wind power program. UAE also operates three nuclear power reactors.
Meanwhile, UAE is taking steps to reduce carbon emissions. In 2016, Abu Dhabi National Oil Company built the region’s first industrial-scale carbon capture utilization and storage facility. It captures 800,000 tons of carbon dioxide, with plans to reach six times that capacity by 2030.
To achieve those goals, companies in the renewable energy industry—including those in Wisconsin—are encouraged to bid on projects. UAE favors public-private partnerships. Vendors can register by accessing project documents on the websites of the government-run energy organizations.