US and UAE Reach Deal to Spur $100 Billion for Accelerating Clean Energy

The U.S. government recently signed a clean energy framework with the United Arab Emirates, intending to mobilize $100 billion for clean energy development, with the goal of deploying 100GW of clean energy by 2035. Specific plans include clean energy innovation, deployment, and supply chains, carbon emissions management, and decarbonization of industry and transport.

Against the background of global energy inflation, the growing threat of climate change, and geopolitical conflicts, the United States and the United Arab Emirates have joined forces to develop clean energy on a large scale, which is enough to demonstrate the importance the two countries attach to energy security. Combined with factors such as the cancellation of anti-dumping and countervailing duties in Southeast Asia within two years, the number of signed PPA projects reaching 80GW, and the expected price reduction in the industrial chain, the installed capacity of the United States in 2023 is expected to reach 40GW-50GW, nearly doubling year-on-year.

(source : Reuters)