UAE official calls for $1.2 trillion investment in energy storage to boost renewables at COP29.

At the UN Climate Change Conference (COP29), Sharif Al Olama, a UAE energy official, stressed the need for increased energy storage to support renewable energy growth. Achieving global renewable targets by 2030 requires $1.2 trillion in storage investments to manage energy supply and reduce carbon emissions. The UAE is also focused on developing clean hydrogen to decarbonize industries and aims to produce 1.4 million metric tons of low-carbon hydrogen by 2031.

November 16, 2024
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