The Finance World Magazine| Edition: March 2023

Energy
achieve that goal. For this reason, the
low-carbon and sustainable fuel comes
on our list of priorities with the Ministry
of Energy and Infrastructure. The
adoption and launch of the sustainable
fuel roadmap are very important in
the path of transition to clean energy,
cutting down international emissions,
and supporting the sector in a balanced
manner so that it continues to grow and
contribute effectively to reducing the
negative effects of climate change.”
The National Sustainable Aviation
Fuel Roadmap is one of the ambitious
initiatives that will help the UAE’s
pursuit of global leadership in energy,
particularly clean energy, and the
attainment of its goals for the next fifty
years, according to engineer Youssef Al
Ali. Additionally, it advances the nation’s
goals for sustainable development,
which call for collaboration between
public and private sector organisations
to implement creative solutions and
guarantee the best possible use of
cutting-edge technology in the run-up
to the UAE Centennial in 2071.
The UAE, a significant oil exporter,
plans to achieve net-zero domestic
The UAE and
France are
joining efforts
to ensure the
successful
outcome of
COP28 for the
benefit of the
UAE, the wider
region, and the
international
community.
carbon emissions by 2050 by investing
billions in the development of renewable
energy sources that will meet half of its
demands. According to Olivier Bordes,
regional director for France’s EDF
Renewables, the Al Dhafra project,
located in the desert 35 kilometres
south of Abu Dhabi, would supply
enough energy for 160,000 homes in
the country of 10 million people. “It
started producing its first kilowatt
hours of electricity at the end of last
year and should officially go into service
before the summer,” Bordes told AFP.
Once fully operational, the project will
produce up to 2.1 gigawatts, he added.
The project, which state-owned
Emirati firms TAQA and Masdar
characterise as the largest singlesite
solar plant in the world, is 60%
controlled by them. A partnership
between EDF Renewables and China’s
Jinko Power Technology owns the
remaining portion. The massive, doublesided
solar power facility, which rotates
its panels to face the sun, is located on
a location that is more than 20 square
kilometres in size (nearly 5,000 acres).
France’s Finance Minister Bruno Le
42 www.thefinanceworld.com March 2023