Currently, UAE is dependent majorly on gas-based power projects, one of the cleanest source among fossil fuels. The government announced an investment of 600 billion Dirhams in power generation to meet the growing demand. With an installed capacity of around 40 GW, the region aims to touch 60 GW by 2026. Reducing its carbon footprint has made the administration to set a target of 20% increase in its renewable energy contribution over the next three years. As per government’s 2050 energy strategy, 50% of total consumption will be drawn from clean energy (44% from renewables, 6% from nuclear), 12% from clean coal and the rest 38% from natural gas.
The Mohammed bin Rashid Al Maktoum (MBR) Solar Park, the largest solar park in the world includes a 700 MW CSP project as well. The US $4.3 billion worth project, once fully operational, will supply 2563 MW power to the grid.
As power generation goes up, it will also create more room for transmission, distribution, companies that supplies electrical materials and allied industry players.