The UAE energy minister told an energy summit in Riyadh that his country saved $191 billion by embracing alternative energy sources, emphasizing the importance of green energy. Suhail Al-Mazroui, speaking at the IPTC 2020 in Riyadh, said the enormous savings pushed the UAE to seriously consider utilizing cleaner kinds of energy. He claimed that the UAE is no longer merely an oil producer, but also a green energy advocate. Al-Mazroui stated that his government is involved in 40 international programs aimed at assisting other countries in the implementation of solar and wind energy projects.
He stated that the UAE intends to participate in the rapidly growing hydrogen sector. He stated that the Gulf country intends to acquire 25% of the global hydrogen market. “The UAE is bullish on the future of green (energies),” the minister said, but he also emphasized the importance of fossil fuel investment, with a focus on generating low-carbon oil.
Source: https://www.arabnews.com/node/2028521/business-economy