Interesting facts:Virtually 60% of the Emirates’ GDP derive from foreign capital investments income. Full version
Power engineering in the UAE is one of the strategically important sectors of the national economy. The problem of creating reliable and efficient energy infrastructure is particularly relevant in the light of unprecedented economic growth. The increase in consumer demand and the need to satisfy it are the current priorities of the Government of the United Arab Emirates. It is worth noting that this approach has already proved its efficiency and started bearing fruits as the power generating capacities of the country increase every year.
The Government of the United Arab Emirates successfully implements a number of long-term projects, which constitute a unified strategy of sectoral development of the national power engineering. A modern network of the applicable utilities is created on the territory of the state. Modernization and extension of engineering structures are carried out across the country.
However, the Government realizes that power engineering, which is based on the extraction of hydrocarbons, has its negative sides. The efforts to stop the dependence of the national economy on oil promote the search for new alternative sources for the generation of electrical energy. Moreover, the UAE, in the international arena, advocates the use and development of clean energy sources. When considering climate features of this region, it becomes obvious that this direction has extensive prospects.
Alternative sources of electrical energy are one of the most promising resources, which may in the future displace all the traditional methods of electrical power generation. The solar and wind energy will allow the state to loosen the dependence of the national economy on the various fossil energy sources. It is also important, that such a method for the production of energy is environmentally safe and does not pollute the environment.
According to the experts, projects in the field of renewable energy in the UAE attract more and more potential investors. In the long-term prospect, this area will be more cost-effective than the traditional fuel sources of energy. Alternative energy in the UAE is a real possibility to ensure the energy independence of the state and to satisfy the increasing consumer demand.
Moreover, the state provides funding for large-scale projects for the alternative sources of energy worldwide. Today, there is an active lending of the construction and building of the objects related to renewable energy in Iran, Mauritania, Argentina, Cuba and St. Vincent.
International cooperation in this sector involves several major areas. In particular, these areas include the design and construction of the onshore and offshore power plants, reduction of harmful emissions into the atmosphere, investments into the low-carbon projects, and research studies in the field of alternative energy. Development of international cooperation is another step to the promotion of the investment activities in the United Arab Emirates.
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