Latest news with #UAE-USPartnershipforAcceleratingCleanEnergy
Yahoo
16-05-2025
- Business
- Yahoo
UAE-US collaborate to develop 15GW of clean energy projects by 2035
The United Arab Emirates (UAE) and the US are bolstering their strategic energy partnership, focusing on clean and renewable energy technologies to support global energy security and assist emerging economies. A flagship initiative, the UAE-US Partnership for Accelerating Clean Energy (PACE), launched in November 2022, aims to mobilise $100bn to deploy 100GW of clean energy by 2035, according to a report by Zawya. In January 2023, the two nations committed $20bn to establish 15GW of clean energy projects across the US by 2035, as part of the partnership, with Masdar spearheading this initiative alongside US private-sector investors. Additionally, Abu Dhabi National Oil Company (Adnoc) has acquired a 35% stake in ExxonMobil's blue hydrogen project in Texas. The site will produce up to one billion cubic feet (bcf) daily of blue hydrogen and more than one million tonnes per annum (mtpa) of low-carbon ammonia. The Abu Dhabi Department of Energy is fostering innovation through agreements with the University of Arizona and the International Renewable Energy Agency to explore cutting-edge clean energy technologies. These include solar power in space and tools to accelerate climate action. Masdar has a strong presence in the US, aiming for a 25GW clean energy portfolio within ten years. Its US investments, which began in January 2019, include wind, solar, and battery storage projects in multiple states. The company's partnership with EDF Renewables North America and the acquisition of a 50% stake in Terra-Gen have significantly expanded its US operations. The Terra-Gen acquisition added 3.7GW of operating capacity and a 12GW development pipeline of wind, solar, and battery storage projects. Masdar's US portfolio now exceeds 5GW, with a focus on California and Texas. In January 2025, the UAE also launched a pioneering energy storage project in Abu Dhabi, combining solar power and battery storage to enable round-the-clock renewable energy dispatch. This project will feature the world's largest solar and battery energy storage system (BESS), with a 5.2GW solar photovoltaic plant and a 19GWh BESS. "UAE-US collaborate to develop 15GW of clean energy projects by 2035" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Gulf Today
15-05-2025
- Business
- Gulf Today
UAE, US renewable energy partnership rdrives global clean energy transition
The strategic energy partnership between the United Arab Emirates and the United States continues to reinforce both countries' shared vision for a sustainable future. This collaboration is marked by significant joint investments in clean and renewable energy technologies, aimed at bolstering global energy security and supporting emerging economies. A key initiative is the UAE-US Partnership for Accelerating Clean Energy (PACE), launched in November 2022, which seeks to mobilise $100 billion in financing and investment to deploy 100GW of clean energy by 2035. As part of this effort, the two countries announced in January 2023 a $20 billion allocation to develop 15GW of clean energy projects in the United States by 2035. The initiative is being led by Masdar in partnership with private-sector investors from the United States. Abu Dhabi National Oil Company (Adnoc) also joined the clean energy push by acquiring a 35 per cent equity stake in ExxonMobil's blue hydrogen project in Texas, which will be capable of producing up to 1 billion cubic feet daily of blue hydrogen, with about 98 per cent of carbon dioxide removed, and more than 1 million tonnes of low-carbon ammonia per year. In support of innovation, the Abu Dhabi Department of Energy signed agreements with the University of Arizona and the International Renewable Energy Agency (IRENA) to explore advanced clean energy technologies, including solar power in space and climate acceleration tools. The United States remains a core market for Masdar, which is targeting a clean energy portfolio of 25GW in the United States within a decade. Masdar's portfolio in the US comprises wind, solar and battery storage projects in California, Texas, New York, and New Mexico, reflecting the company's long-term commitment to transforming energy systems. Masdar's US activities began in January 2019 with investments in the Rocksprings and Sterling wind farms in Texas and New Mexico. In 2020, it partnered with EDF Renewables North America across a portfolio of seven operational projects comprising 1.3GW of operating capacity. In 2024, Masdar acquired a 50 per cent stake is one of the USA's leading renewable power producer Terra-Gen, adding another 3.7GW of operating capacity, 6GW of under construction and advanced pipeline assets, as well as significant early stage pipeline. With this acquisition, Masdar's gross operating portfolio in the US now exceeds 5.0GW. Prior to the Terra-Gen acquisition, Masdar's 1.3GW portfolio in the US consisted of four utility-scale wind projects in Texas and New Mexico and five solar projects in California. Two of the solar projects, Big Beau and Desert Harvest, include battery energy storage systems. The acquisition of Terra-Gen added a gross operating portfolio of 3.7GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites, predominantly in California and Texas. Terra-Gen is currently developing further 12GW of wind, solar and battery storage projects California, Texas and New York. Ben Dietderich, Press Secretary and Chief Spokesperson at the US Department of Energy, said that the United States and the United Arab Emirates share a long-standing relationship in the energy sector and are committed to strengthening cooperation on global energy supply security and resilient infrastructure. In statements to the Emirates News Agency (WAM), Dietderich said, 'We see great potential to expand our collaboration and welcome the UAE's growing investments in American energy projects,' adding that new partnerships would drive economic growth on both sides. Dierdrech highlighted the trusted partnership between the two nations in the field of civil nuclear cooperation, stressing the department's support for the continued safe and innovative deployment of nuclear technologies. He also pointed to the increasing importance of building energy infrastructure to support emerging sectors such as data centres and artificial intelligence, and underscored the US commitment to advancing joint work in this area. The energy relationship between the UAE and the United States, he emphasised, goes beyond trade and investment-encompassing knowledge exchange, institutional development, and the advancement of affordable, reliable, and secure energy in both countries. In April, the UAE hosted the US Energy Secretary Chris Wright on his first official overseas visit since taking office, marking the UAE as the initial stop on his Middle East tour. During his two-day visit, Wright held high-level talks with senior government and industry leaders across the country. Meanwhile, in the fourth quarter of 2024, the EU economy greenhouse gas emissions were estimated at 897 million tonnes of CO2-equivalents (CO2-eq), a 2.2% increase compared with the same quarter of 2023 (878 million tonnes of CO2-eq). The EU's gross domestic product (GDP) registered a 1.5% increase in the fourth quarter of 2024, compared with the same quarter of 2023. This information comes from data on quarterly estimates for greenhouse gas emissions by economic activity published by Eurostat today. Quarterly estimates of greenhouse gas emissions complement quarterly socio-economic data, such as GDP or employment. WAM
Al Etihad
15-05-2025
- Business
- Al Etihad
UAE-US renewable energy partnership drives global clean energy transition
15 May 2025 15:32 ABU DHABI (WAM)The strategic energy partnership between the UAE and the US continues to reinforce both countries' shared vision for a sustainable future. This collaboration is marked by significant joint investments in clean and renewable energy technologies, aimed at bolstering global energy security and supporting emerging economies.A key initiative is the UAE-US Partnership for Accelerating Clean Energy (PACE), launched in November 2022, which seeks to mobilise $100 billion in financing and investment to deploy 100GW of clean energy by part of this effort, the two countries announced in January 2023 a $20 billion allocation to develop 15GW of clean energy projects in the US by 2035. The initiative is being led by Masdar in partnership with private-sector investors from the Dhabi National Oil Company (ADNOC) also joined the clean energy push by acquiring a 35 percent equity stake in ExxonMobil's blue hydrogen project in Texas, which will be capable of producing up to 1 billion cubic feet daily of blue hydrogen, with about 98 percent of carbon dioxide removed, and more than 1 million tonnes of low-carbon ammonia per year. In support of innovation, the Abu Dhabi Department of Energy signed agreements with the University of Arizona and the International Renewable Energy Agency (IRENA) to explore advanced clean energy technologies, including solar power in space and climate acceleration US remains a core market for Masdar, which is targeting a clean energy portfolio of 25GW in the United States within a decade. Masdar's portfolio in the US comprises wind, solar and battery storage projects in California, Texas, New York, and New Mexico, reflecting the company's long-term commitment to transforming energy US activities began in January 2019 with investments in the Rocksprings and Sterling wind farms in Texas and New Mexico. In 2020, it partnered with EDF Renewables North America across a portfolio of seven operational projects comprising 1.3GW of operating capacity. In 2024, Masdar acquired a 50 percent stake is one of the USA's leading renewable power producer Terra-Gen, adding another 3.7GW of operating capacity, 6GW of under construction and advanced pipeline assets, as well as significant early stage pipeline. With this acquisition, Masdar's gross operating portfolio in the US now exceeds to the Terra-Gen acquisition, Masdar's 1.3GW portfolio in the US consisted of four utility-scale wind projects in Texas and New Mexico and five solar projects in California. Two of the solar projects, Big Beau and Desert Harvest, include battery energy storage systems. The acquisition of Terra-Gen added a gross operating portfolio of 3.7GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites, predominantly in California and Texas. Terra-Gen is currently developing further 12GW of wind, solar and battery storage projects California, Texas and New York. Trump's Middle East visit Continue full coverage
