Dubai to spend billions on clean energy push

DUBAI: Dubai will spend billions of dollars on generating clean energy, the government said yesterday, aiming to have solar panels installed on the roofs of all buildings by 2030. The fast-growing desert city state of 2.4 million, located in one of the hottest regions of the world, uses huge amounts of energy to air-condition its skyscrapers and provide water supplies through desalination. The Dubai government will encourage building owners to place solar panels on their roofs and link them to a network of the local power utility, Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum said in a statement. All Dubai buildings would have solar cells by 2030.The authorities plan to establish a 100 billion dirham ($27 billion) fund to provide low-cost loans for investors in Dubai’s clean energy sector. Dubai plans 500 million dirhams of investment in research into areas such as integration of smart power grids and energy efficiency. It intends to create a tax-free business zone to attract clean energy companies from around the world, Sheikh Mohammed said. A solar park being built in Dubai is to have a generating capacity of 800 megawatts in April 2017 and 5,000 MW by 2030, or a quarter of the emirate’s energy production in that year. Total investment in the project is estimated at 50 billion dirhams. Dubai aims to obtain 7 percent of its energy from relatively clean sources by 2020, raising that to 25 percent in 2030 and 75 percent in 2050, Sheikh Mohammed said.