Energy Literacy Advocates Newsroom
Sign of the Times: UAE Takes a Green Stance
Monday, January 19, 2009
Despite oil falling to $35 a barrel on continued forecasts of a depressed world wide economy, oil rich states in the Middle East are investing in more green energy.
According to the Associate Press, the United Arab Emirates are making strong pledges toward renewable energy use. The head of a green-energy project in Abu Dhabi says the oil-rich emirate plans to generate 7 percent of its energy needs from renewable sources by 2020.
Sultan al-Jaber says the initiative will create a renewable energy market worth $6 billion to $8 billion in Abu Dhabi.
Most, if not all, of the energy will come from solar power, another official involved with the project says.
To read the Associated Press release, click here.
According to the Associate Press, the United Arab Emirates are making strong pledges toward renewable energy use. The head of a green-energy project in Abu Dhabi says the oil-rich emirate plans to generate 7 percent of its energy needs from renewable sources by 2020.
Sultan al-Jaber says the initiative will create a renewable energy market worth $6 billion to $8 billion in Abu Dhabi.
Most, if not all, of the energy will come from solar power, another official involved with the project says.
To read the Associated Press release, click here.
Labels: oil companies, oil price, oil supply/demand, renewables
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