The UAE has signed a significant investment memorandum with the Indian state of Rajasthan, paving the way for the development of a 60 GW renewable energy project.
The agreement, which focuses on solar, wind, and hybrid energy opportunities, is part of a broader Investment Cooperation between the UAE Ministry of Investment and India's Ministry of New and Renewable Energy.
The memorandum was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Shri Ajitabh Sharma, Principal Secretary of Industries in Rajasthan. This collaboration aims to bring advanced renewable energy technologies to Rajasthan, leveraging its favorable climate and vast land resources.
Alsuwaidi emphasized the importance of the project, stating,
“The UAE remains at the forefront of an ambitious energy diversification agenda, with energy transition as a key pillar. This project underscores our commitment to advancing clean energy solutions.”
Lal Sharma, Principal Secretary of Rajasthan, echoed this sentiment, highlighting India's focus on sustainable energy. He noted that partnerships like this play a crucial role in India’s energy transition, helping to meet its ambitious clean energy targets.
This project aligns with the UAE’s Energy Strategy 2050, which aims for 50% of the energy mix from clean sources and net-zero emissions by 2050. Similarly, India is making significant strides, with 40% of its power capacity already from non-fossil fuels and a goal to achieve net-zero by 2070. The collaboration between the two nations represents a step forward in their shared vision for a sustainable energy future.
News Source: Emirates News Agency
