The UAE, the Arab world's second-largest economy, is to launch more large-scale solar projects by 2030 to meet the growing demand for clean energy, the energy minister said.
The country, which aims to achieve net-zero emissions by 2050, will initiate “one or two” solar farms a year until the end of the decade, similar to those developed by Abu Dhabi, Suhail Al Mazrouei told the RAK Energy Summit on Thursday.
“We are seeing probably the highest [energy] demand ever because of the economic growth that we're seeing in the country,” Mr Al Mazrouei said.
The UAE government seeks to hit a 2030 target of generating 30 per cent of its energy from clean sources, including renewable energy and nuclear power.
“Today, we have around six gigawatts of renewable energy [and] we're targeting to develop 15 gigawatts and hopefully more by 2030,” Mr Al Mazrouei said.
Last year, Abu Dhabi inaugurated the two-gigawatt Al Dhafra solar power plant, one of the world's largest solar projects.
It supplies power to 200,000 homes and is expected to cut Abu Dhabi's carbon dioxide emissions by more than 2.4 million tonnes annually, equal to removing about 470,000 cars from the road.
Abu Dhabi, which supplies electricity to the Northern Emirates, has the “cleanest grid” in the Middle East, with a carbon intensity of 270 grams of carbon-dioxide per kilowatt hour, compared to the global average of more than 400 grams of carbon dioxide per kilowatt hour, Mr Al Mazrouei said.
The Barakah nuclear power plant in Abu Dhabi now generates 40 terawatt-hours of electricity a year, providing up to 25 per cent of the UAE's electricity.
The minister said that the Emirates would continue to invest in sustainable aviation fuel and the infrastructure needed to produce green hydrogen, adding that artificial intelligence would be a “huge” driver of electricity demand.
The UAE aims to produce 1.4 million metric tonnes of hydrogen annually by 2031 and 15 million metric tonnes a year by 2050.
The Emirates has long championed the use of AI, launching various initiatives following the unveiling of the UAE Strategy for AI in 2017, which kick-started the creation of smart systems in key sectors.
The International Energy Agency forecasts that data centres’ total electricity consumption could more than double to 1,000 terawatt-hours by 2026, up from 460 terawatt-hours in 2022.
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Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
Rating: Two out of five stars
MATCH INFO
Everton 2 (Tosun 9', Doucoure 93')
Rotherham United 1 (Olosunde 56')
Man of the Match Olosunde (Rotherham)
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
