UAE intends to expand the use of new energies in pursuit of such goals as exploiting renewable resources that are not oil-dependent. The Emirates has become a hub for clean energy technology, providing funding to build renewable energy projects around the world and investing millions of dollars in fundamental research on energy, water, microelectronics, advanced materials and transport systems said Sheikh Umar Farooq Zahoor, being a serial entrepreneur and an interested active investor in oil, gas and energy, he is one of the closest sources to discuss the present scenario and future plans of UAE on renewable energy.

UAE Investing In Renewable Energy Generation

As per the reports and different sources like Sheikh Umar Farooq Zahoor, an investor in Oil, Gas & Energy — United Arab Emirates has a strong ambitious plan to become a leader in renewable energy production. UAE has always been on the top in the oil business, and now is planning to become the leading resource for renewable energy.

In light of this, the UAE has already started to become a hub for clean energy technology. Along with that UAE has also started investing millions of dollars in the research on renewable energy, microelectronics, transport systems, as well as water.

Elaborating that, Umar Farooq Zahoor also mentioned how Abu Dhabi, a regional leader is working on becoming a next leader of renewable energy as well as sustainable development. MENA countries blessed with huge natural gas and oil reserves are looking to increase their use of renewable energy. According to the sources, electricity generated using renewable sources is much cheaper than the one produced using fossil fuel. And as per the famous businessman & former director of AMERI Group, Sheikh Umar Farooq Zahoor this is going to revolutionize the position of UAE in the global market.

Following this, he also indicated to the study that if the UAE reaches the estimated goal of producing renewable energy, it could generate $192 billion by 2050 in the energy sector only.