UAE to double renewable energy portfolio in next ten years: ADNOC

ADNOC logo. (File photo: Reuters)

The United Arab Emirates grew its renewable energy portfolio by more than 400 percent in the last 10 years, and is on track to double that again in the coming decade, Abu Dhabi National Oil Co. (ADNOC) Chief Executive Sultan al-Jaber said on Monday.

“We [ADNOC] will increase our carbon capture utilization and storage program by 500 per cent…to capture the same amount of CO2 as five million acres of forest,” Jaber also told a sustainable energy event in the United Arab Emirates capital Abu Dhabi.

ADNOC will also reduce greenhouse gas intensity by an additional 25 percent and limit fresh water consumption to below 0.5 percent of total water use.

Indonesian President Joko Widodo, visiting Abu Dhabi for the sustainability event, called for more investments in clean energy in his country and said its new capital, currently under construction, would adopt a environmentally friendly and low carbon lifestyle.

“Climate change and environmental challenges will define this century,” he told the conference.

Indonesia signed 11 business deals with the United Arab Emirates worth a combined 314.9 trillion rupiah ($23 billion) covering investment in energy and other sectors, Widodo said via his Twitter account on Monday.

ADNOC signed agreements with Indonesia’s Pertamina and Chandra Asri in the petrochemical and gas sectors on Sunday.

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Last Update: 09:15 KSA 12:15 - GMT 09:15
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