UAE and US sign $100 bln green energy deal

The US and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, US Secretary of State Antony Blinken said on Tuesday.

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Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries.

“The energy transition needs a realistic, practical and economically viable plan to deliver climate progress together with energy security and inclusive economic growth,” Sultan al-Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change, said in the statement.

The initiative will also focus on investing in responsible and resilient supply chains, promoting investment in green mining as well as production of minerals and materials vital to the energy transition.

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