US and UAE sign global clean energy partnership to bring US$100 billion of investment

Facebook
Twitter
LinkedIn
Reddit
Email
The collaboration aims to support the deployment of 100GW of clean energy by 2035. Image: Unsplash.

The US and United Arab Emirates (UAE) have signed a significant new clean energy framework in Abu Dhabi, the White House has announced.

The Partnership for Accelerating Clean Energy (PACE) is set to catalyse US$100 billion in global investment in the sector, the Department of State said, and allow acceleration towards the goal of deploying 100GW of clean energy globally by 2035. A White House fact sheet highlighted “a global clean energy future and long-term energy security” as primary concerns of PACE. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Announced ahead of President Biden’s attendance at COP27 this Sunday, the partnership is built on five stated pillars. The first, a focus on clean energy innovation, deployment and supply chains, will apparently focus on harnessing both public and private sector expertise in the US and UAE to drive technology innovations and expedite investments therein. PACE also plans to facilitate investments in mining, production and processing of vital materials for clean energy production.

The second, carbon and methane management, will see both countries encouraging reduced harmful emissions in the hydrocarbons sector, such as those from oil. The fact sheet stated that “the two countries will give momentum to deploying and further developing new technologies for carbon capture, utilisation, and storage, in addition to measuring and reducing greenhouse gas emissions across the hydrocarbon value chain”.

PACE will thirdly focus on the full-scale implementation of civil nuclear cooperation between the US and UAE, intimating that nuclear energy can be used to drive decarbonisation in hard-to-abate sectors like heavy industry and heavy-duty transport. Safety, security and regulatory oversight were also cited as key concerns.

Fourth, both countries also acknowledged a need to bridge the gap between developed and developing economies regarding the energy transition. White House press secretary Karine Jean-Pierre spoke of “robust commercial investment and other support for the emerging economies whose clean development is both underfunded and essential to the global climate effort”.

Its final stated aim is to encourage investment in the decarbonisation of the industrial and transport sectors, in part by spurring demand for net zero emissions industrial products. In particular, PACE highlighted long-distance transport sectors such as aviation and shipping.

Leaders from around the world will travel to the UAE next year as it hosts COP28 in Dubai. The city is currently building what will be the world’s largest solar park, named for the ruler of Dubai, Mohammed bin Rashid.

21 May 2024
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA