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UAE finances renewable energy projects with $450m – official

UAE finances renewable energy projects with $450m – official
By Amr Adel
Abu Dhabi – Mubasher: Matar Al Neyadi, Undersecretary of the UAE Ministry of Energy, said his country has financed renewable energy projects with nearly $450 million all over the world.
During the Tenth Arab Energy Conference held today in Abu Dhabi, Al Neyadi said the UAE seeks to optimally utilize resources in power generation, and is interested in the use of clean energy.
The top official also said his country seeks to achieve stability in oil markets through balancing supply against demand, as well as boosting investments in the oil industry.
There is currently a study about of the implementation of a federal law for the Rationalization of energy, as well as the adoption of legislation for the future of energy industry, Al Neyadi said.
Translated by Abdul Maguid Aboshahla
Photo Credit: Arabianeye-Reuters