Country:United Arab Emirates
Year:2006
Policy status:In Force
Jurisdiction:National
Date Effective:2006
Policy Type:Economic Instruments>Direct investment, Research, Development and Deployment (RD&D)
Renewable Energy Policy Targets:Multiple RE Sources
Agency:Masdar, Taqa, and IPIC, principally
Renewable Energy Description:

The United Arab Emirates, through its state-owned funds and companies, has initiated a programme of investment in overseas renewable energy projects and R&D, with a view to enhancing national expertise in the sector and promoting renewable energy generally.

Masdar is the largest investor, with stakes in the London Array and Dudgeon offshore wind projects (UK), a wind farm in Jordan, a wind farm in Oman, and the joint venture Torresol, which owns three solar projects, including Gemasolar. Separately, also through Masdar, in partnership with Deutsche Bank, Credit Suisse, Siemens, and Consensus Business Group, the UAE has launched two cleantech funds, including renewable energy, totaling $515 million.

Additionally, the fund Taqa has launched an investment programme in overseas clean energy projects, such as a wind farm in Minnesota and a hydro plant in India. The sovereign wealth fund IPIC also has a renewable energy portfolio through its holdings in companies like OMV and EDP.

Last modified: Mon, 12 Jan 2015 10:15:15 CET