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| A large-scale solar installation near the Masdar City sustainable urban development project. BERND VON JUTRCZENKA/ZUMA PRESS |
The United Arab Emirates is emerging as one of the world’s biggest state financiers of clean energy, seeking to become as influential in renewables as it currently is in oil and gas.
Since November, when global nations agreed to accelerate emissions-cutting plans at a United Nations summit, the U.A.E. has said it will fund development of thousands of megawatts of solar-energy projects in countries across the world. It has committed $400 million to enable developing nations’ transition to clean energy and pledged to help supply green electricity to 100 million Africans by 2035.
The Gulf state, alongside the U.S., also has promised to raise $4 billion to invest in technologies that would transform agriculture and food production to limit climate change.
Emirati officials hope the bet on clean energy won’t only help diversify the country’s oil-dependent economy but increase its diplomatic clout and shift perceptions of the Gulf state.
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