Abu Dhabi: The UAE is keen to invest in the renewable energy projects in Saudi Arabia, a top official said yesterday.
Masdar, which is playing a leading role in Abu Dhabi’s future energy plans as a frontrunner in the renewable energy sector in the region, can share its expertise by striking partnerships with initiatives in Saudi Arabia, Masdar CEO Sultan Al Jaber said at a press briefing.
He did not reveal the amount of investment or priority areas of the investment in the renewable energy sector.
Saudi Arabia announced plans in May to develop solar power plants that can generate up to 41,000 MW within two decades at an estimated cost of over $100 billion (Dh367.20 billion).
Al Jaber recalled how that when the UAE as an oil-exporting country established Masdar in 2006 to promote renewable energy, it was a shock to many people in the GCC and Arab World. “But our initiative changed the mindset about the energy generation in the region which is a great achievement of the UAE,” he said.
He said it is encouraging to see that more countries and organisations have come forward to promote renewable energy.