Abu Dhabi Department of Energy and Paris-based International Energy Agency signed a preliminary agreement to promote the attractiveness of the emirate’s energy sector to international investors, with an emphasis on clean energy.
“Abu Dhabi is pursuing an ambitious programme that focuses on energy as a top priority to achieve sustainable development across all sectors," said IEA executive director Fatih Birol. "In doing so, Abu Dhabi is reevaluating its current suite of policies and regulations to incentivise investment in clean energy,”
Abu Dhabi, which accounts for 4 per cent of global crude output, has been looking to move away from domestic consumption of fossil fuel and tap into renewable resources for generation of electricity as well as desalination.
The MoU with the Paris-based agency will also look to accelerate Abu Dhabi’s current momentum towards reducing greenhouse gas emissions as well as the achievement of the UN’s Sustainable Development Goals, the department said.
The IEA works to ensure reliable, affordable and clean energy for its 30 member countries.
Last week, the Department of Energy signed agreements to expand co-operation with Australia, the world’s biggest producer of liquefied natural gas. Strategic partnerships, particularly in optimising energy use as well as rationalising consumption were on the agenda.