Al Dhafra solar photovoltaic independent power project near Abu Dhabi. The UAE has been investing heavily in clean energy projects to achieve net-zero emissions by 2050. AFP
Al Dhafra solar photovoltaic independent power project near Abu Dhabi. The UAE has been investing heavily in clean energy projects to achieve net-zero emissions by 2050. AFP
Al Dhafra solar photovoltaic independent power project near Abu Dhabi. The UAE has been investing heavily in clean energy projects to achieve net-zero emissions by 2050. AFP
Al Dhafra solar photovoltaic independent power project near Abu Dhabi. The UAE has been investing heavily in clean energy projects to achieve net-zero emissions by 2050. AFP

Where are energy ties between the UAE and India headed?


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The latest renewable energy agreement between the UAE and India will further increase co-operation between the two countries in areas such as clean energy, electricity grid connectivity and green hydrogen, experts and officials have said.

Earlier this week, both countries signed initial agreements to expand bilateral investments in renewable energy, food processing and healthcare sectors.

The agreement aims to invest in renewable energy projects in India, potentially reaching a total capacity of 60 gigawatts.

India’s Foreign Secretary Vinay Kwatra said one of the pacts was on renewable energy, which also includes green hydrogen and solar.

“There is an inherent thought of possible grid connectivity between India and the UAE in that space,” Mr Kwatra told reporters at a summit in India’s Gujarat state.

  • President Sheikh Mohamed with Prime Minister Narendra Modi of India at the Vibrant Gujarat Global Summit, in Gandhinagar, Gujarat. Photo: Hamad Al Kaabi / UAE Presidential Court
    President Sheikh Mohamed with Prime Minister Narendra Modi of India at the Vibrant Gujarat Global Summit, in Gandhinagar, Gujarat. Photo: Hamad Al Kaabi / UAE Presidential Court
  • The three-day summit is being attended by heads of state, government officials, decision-makers, and business and finance professionals from around the world. Photo: Mohamed Al Hammadi / UAE Presidential Court
    The three-day summit is being attended by heads of state, government officials, decision-makers, and business and finance professionals from around the world. Photo: Mohamed Al Hammadi / UAE Presidential Court
  • Sheikh Mohamed with Mr Modi and President Jose Ramos of East Timor, left, and Prime Minister Petr Fiala of the Czech Republic, third left. Photo: Hamad Al Kaabi / UAE Presidential Court
    Sheikh Mohamed with Mr Modi and President Jose Ramos of East Timor, left, and Prime Minister Petr Fiala of the Czech Republic, third left. Photo: Hamad Al Kaabi / UAE Presidential Court
  • Sheikh Mohamed delivers a speech during the summit. Photo: Hamad Al Kaabi / UAE Presidential Court
    Sheikh Mohamed delivers a speech during the summit. Photo: Hamad Al Kaabi / UAE Presidential Court
  • Mohamed Al Suwaidi, UAE Minister of Investment, and Reem Al Hashimy, Minister of State for International Co-operation, at the summit. Photo: Hamad Al Kaabi / UAE Presidential Court
    Mohamed Al Suwaidi, UAE Minister of Investment, and Reem Al Hashimy, Minister of State for International Co-operation, at the summit. Photo: Hamad Al Kaabi / UAE Presidential Court
  • Sheikh Hamdan bin Mohamed, Sheikh Mohammed bin Hamad, Adviser for Special Affairs at the Presidential Court, and Ali Al Shamsi, Deputy Secretary General of the Supreme National Security Council, follow proceedings. Photo: Mohamed Al Hammadi / UAE Presidential Court
    Sheikh Hamdan bin Mohamed, Sheikh Mohammed bin Hamad, Adviser for Special Affairs at the Presidential Court, and Ali Al Shamsi, Deputy Secretary General of the Supreme National Security Council, follow proceedings. Photo: Mohamed Al Hammadi / UAE Presidential Court
  • Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, Sheikh Hamdan bin Mohamed, and Sheikh Mohammed bin Hamad during the conference. Photo: Mohamed Al Hammadi / UAE Presidential Court
    Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, Sheikh Hamdan bin Mohamed, and Sheikh Mohammed bin Hamad during the conference. Photo: Mohamed Al Hammadi / UAE Presidential Court
  • Sheikh Tahnoun bin Zayed, National Security Adviser and Deputy Ruler of Abu Dhabi, and Sheikh Abdullah bin Zayed on the sidelines of the summit. Photo: Mohamed Al Hammadi / UAE Presidential Court
    Sheikh Tahnoun bin Zayed, National Security Adviser and Deputy Ruler of Abu Dhabi, and Sheikh Abdullah bin Zayed on the sidelines of the summit. Photo: Mohamed Al Hammadi / UAE Presidential Court
  • President Sheikh Mohamed with, from left, Acharya Devvrat, Governor of Gujarat, President Horta of East Timor, Prime Minister Modi, President Filipe Nyusi of Mozambique, Prime Minister Fiala of the Czech Republic, and Bhupendrabhai Patel, Chief Minister of Gujarat. Photo: Hamad Al Kaabi / UAE Presidential Court
    President Sheikh Mohamed with, from left, Acharya Devvrat, Governor of Gujarat, President Horta of East Timor, Prime Minister Modi, President Filipe Nyusi of Mozambique, Prime Minister Fiala of the Czech Republic, and Bhupendrabhai Patel, Chief Minister of Gujarat. Photo: Hamad Al Kaabi / UAE Presidential Court
  • President Sheikh Mohamed is received by Narendra Modi, Prime Minister of India. All photos: UAE Presidential Court
    President Sheikh Mohamed is received by Narendra Modi, Prime Minister of India. All photos: UAE Presidential Court
  • Sheikh Mohamed is greeted by Mr Modi ahead of the Vibrant Gujarat Global Summit
    Sheikh Mohamed is greeted by Mr Modi ahead of the Vibrant Gujarat Global Summit
  • Sheikh Mohamed embraces Mr Modi
    Sheikh Mohamed embraces Mr Modi
  • Sheikh Mohamed receives flowers upon arriving at the airport
    Sheikh Mohamed receives flowers upon arriving at the airport
  • Sheikh Mohamed greets a dignitary. Hamad Al Kaabi / UAE Presidential Court
    Sheikh Mohamed greets a dignitary. Hamad Al Kaabi / UAE Presidential Court
  • Sheikh Mohamed and Mr Modi witness a Memorandum of Understanding exchange ceremony at The Leela Gandhinagar hotel
    Sheikh Mohamed and Mr Modi witness a Memorandum of Understanding exchange ceremony at The Leela Gandhinagar hotel
  • Dr Anwar Gargash, diplomatic adviser to the President, former minister of state for foreign affairs, Sheikh Mohamed bin Hamad, Private Affairs Adviser in the Presidential Court, Sheikh Hamdan bin Mohamed and Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, at the exchange ceremony. Mohamed Al Hammadi / UAE Presidential Court
    Dr Anwar Gargash, diplomatic adviser to the President, former minister of state for foreign affairs, Sheikh Mohamed bin Hamad, Private Affairs Adviser in the Presidential Court, Sheikh Hamdan bin Mohamed and Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, at the exchange ceremony. Mohamed Al Hammadi / UAE Presidential Court
  • A motorcade carries Sheikh Mohamed and Mr Modi in Gujarat
    A motorcade carries Sheikh Mohamed and Mr Modi in Gujarat

The preliminary agreement between the two countries would focus on combining new areas of technology with renewable energy, Navdeep Suri, former ambassador of India to the UAE, said.

“There are some really ambitious ideas that are being discussed, particularly in terms of trying to connect grids in the two countries [and] there’s a fair bit of discussion on green hydrogen,” Mr Suri told The National.

He also said the latest round of agreements could support the goals of the India-Middle East-Europe Economic Corridor and the I2U2 economic co-operation grouping. The I2U2 group is a grouping of India, Israel, the UAE and the US.

The trade corridor, which was announced at the G20 Summit in India in September, will originate in India, connect the UAE, Saudi Arabia, Jordan, and Israel, and terminate in the EU.

It has called for the development of a mix of rail and sea links for physical connectivity and includes plans for pipelines to transport hydrogen produced in Saudi Arabia and the UAE.

I2U2 was formed in 2021 following the Abraham Accords between Israel and the UAE, to deal with issues concerning maritime security, infrastructure and transport in the region.

Less than a year after the group’s creation, the countries announced a partnership to advance a 300-megawatt wind-solar hybrid project complemented by a battery energy storage system in Gujarat.

At the Cop28 climate conference last month, the UAE said it would develop 6.6 gigawatts of clean energy capacity in India, including the construction of 1,200 megawatts of wind and solar projects.

The projects are expected to be financed using the Emirates’ $30 billion climate fund Alterra, which is backed by major institutional investors such as BlackRock, Brookfield and TPG.

"It is a great sign to see both countries furthering their co-operation on the implementation front as well,” said Gauri Singh, deputy director general at the International Renewable Energy Agency.

“India possesses an incredibly attractive renewable energy market, thanks to its well-defined policies and clearly outlined targets, while the UAE continues to demonstrate its commitment to becoming a renewable energy leader,” Ms Singh told The National.

Attractive market

India, the world’s fifth-largest economy, aims to achieve net-zero emissions by 2070 and meet 50 per cent of its electricity requirements from renewable energy sources by the end of this decade.

The Indian government has estimated that the country’s shift to a low-carbon path will require more than $10 trillion of new investments by 2070.

“Given its economic growth, demographics [and] size, [India] offers probably the best return on investment,” Mr Suri said.

“When you look at the trajectories of the major countries in the region … India is outperforming most of the others at this point of time and is projected to continue to outperform for the next several years,” he added.

New Delhi has forecast annual gross domestic product growth of 7.3 per cent in the fiscal year ending in March, the highest rate among the major economies, despite a global slowdown.

Even with the economic momentum, the country’s renewables ambitions are challenging.

India, the fourth-largest country in terms of installed renewable energy capacity, will need 40 gigawatts of wind and solar capacity to be added annually to reach its 450-gigawatt target by 2030, according to Wood Mackenzie.

That would require an annual investment of $35 billion a year, the US-based consultancy said in a report last year.

India’s power ministry has projected renewable energy investments of about $16.5 billion for this year.

"With solar and wind at grid parity, these technologies will scale up and constitute 80 per cent of the new capacity additions in India, with demand coming from not only electric utilities, but also from [the] industrial sector," Ankita Chauhan, associate director at S&P Global Commodity Insights, told The National.

The signing of the initial agreement is in line with the past relationship between the two countries, where the UAE's sovereign wealth fund, the Abu Dhabi Investment Authority (Adia), has invested in several renewable energy assets and holds stakes in leading renewable companies in India, Ms Chauhan said.

Adia has invested in two of India's largest renewable energy companies – ReNew and Greeenko Group.

However, coal, which accounted for nearly 75 per cent of India’s electricity in 2022, will continue to play a significant role in the country’s energy mix as power demand soars.

India added an annual average of five gigawatts of coal-based electricity generation capacity from 2017 to 2022.

Connected power grids

India and the UAE have been in talks to connect their grids through undersea cables, according to media reports.

New Delhi has already signed an initial agreement with Saudi Arabia to co-operate in the areas of electrical grid interconnection, clean hydrogen and supply chains.

Both countries will set up a general framework for co-operation in electrical interconnection and electricity exchange during peak times and emergencies.

When it comes to connecting the power grids of India and the UAE, “you just have to negotiate a relatively small stretch of the Arabian Sea”, Mr Suri said.

For the Emirates, that is more technologically and financially feasible than a grid connected with China or other emerging economies, he added.

Integrating regional power systems boosts energy security, expands access to clean, affordable electricity, and allows diverse generation capacities to meet demand and maintain stability.

“If you can connect grids efficiently, then you don't need to invest that [much] in [energy] storage,” Mr Suri said.

“You can get over the hump of having plenty of power during the day but not enough at night,” he said.

The UAE, Opec's third-largest producer, has been investing heavily in clean energy projects, ranging from nuclear to solar, to achieve net-zero emissions by 2050.

The growing number of renewable energy projects also presented a favourable environment for project financing, sustainable bonds, and other investment tools that promote environmental, social and governance (ESG) principles, Vikas Lakhwani, chief revenue officer at CPT Markets, said.

“The financial implications [of the UAE-India agreement] are far-reaching, creating exciting opportunities for investors, developers, and financial institutions across the spectrum,” he said.

What is graphene?

Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

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GROUPS

Group Gustavo Kuerten
Novak Djokovic (x1)
Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)

Group Lleyton Hewitt
Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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The specs

Engine: 6.2-litre V8

Transmission: seven-speed auto

Power: 420 bhp

Torque: 624Nm

Price: from Dh293,200

On sale: now

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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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RESULTS

6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).

7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.

7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.

8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.

9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Updated: January 12, 2024, 4:31 AM