January 28 2021
In March 2016, Vice president of the US Joe Biden visits the city of Masdar that is known for $20 billion that depends on all solar energy, and is designed to become a tech hub in the UAE. After five years, Joe was expected to hold the position of president in the United States and Dr. Sultan Al Jaber is the host who wants the upcoming US leader to espouse the work of flourishing sources of sustainable energy.
Umar Farooq Zahoor said Al Jaber was quite impressed with everything and said that the intention was to make a climate change that is the main part of their agenda. Thus, the focus was all clear. Al Jaber is the minister of industry &advanced technology in the Emirates, and also, his special envoy for the nation for climate change. In January month, he came for a meeting with the top officials during the first session in the Atlantic Council of 2021 (Global Energy Forum) that was virtual for the very first time.
Sheikh Umar Farooq explained that the meeting has comprised of Suhail Al, Minister of energy & infrastructure in the Emirates, and the CEO at the Mubadala Investment Company under UAE investment.
As the pandemic has ruined everything and the consequences have felt in all economies, the UAE is on the same track. The government looks to build the economies again, and the transition of energy and make the sources of energy too sustainable that has been accelerating during the time of the pandemic.
The future of renewables to that of fossil fuels
Umar Farooq Zahoor said that the mix of smart investment with diversified energy can easily pay off. When Masdar was commenced, at that time, solar as well as wind was of high cost as these are nascent sources of energy. But now, these are highly competitive as per the cost and the largest solar park situated in Abu Dhabi produces electricity at a very low cost of 1.35 cents per kilowatt an hour and sets a novel world record.
As said by Umar Farooq Zahoor, the geology of the nation is enriched with some globe’s least intensive carbon oil, and hydrogen is the new fuel that could also be considered as a game-changer. Therefore, as these markets are growing, so it will help Abu Dhabi and the Emirates to become a major player and a superior supplier of hydrogen all across the world.