The United Arab Emirates is planning a $6 billion mega solar and battery project to provide uninterrupted power supply as it targets a rapid boost in clean energy.
The facility will “transform renewable energy into baseload energy,” said Masdar Chairman Sultan Al Jaber, who is also chief executive officer of Abu Dhabi National Oil Co. “It is a first step that could become a giant leap.”
The UAE, the first Gulf state to declare a target to reach net zero carbon emissions by 2050, is building solar facilities and is operating nuclear reactors to cut reliance on hydrocarbons for power. It is looking to add more solar facilities and battery storage sites as the oil-rich nation targets more carbon emissions-free electricity.
The project, which will be built over an area of 90 square kilometers in the Abu Dhabi desert, will be financed by a mix of debt and equity, Masdar’s Alobaidli said. State utility Emirates Water and Electricity Co. will also be involved, Al Jaber said.
“This is an ambitious plan, and depending when it is built, may be the world’s largest solar and storage project at that time,” BNEF analyst Jenny Chase said.
Other countries in the Gulf are also following similar paths. Saudi Arabia, the world’s biggest oil exporter, is building solar and wind projects as it aims for a bigger share of renewables in its power grid. Still, crude oil remains the backbone of the economy of most of these nations.
