UAE Sees $192 Billion Savings in Switch to Green Power From Gas
- Gulf state plans to invest $150 billion in clean power by 2050
- Current LNG subsidy system is full of inefficiencies, UAE says
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The United Arab Emirates forecasts that savings generated by switching half its power needs to clean energy by mid century will outstrip the investment costs.
The Gulf state plans to invest $150 billion in renewable power to 2050, weening the country from dependency on subsidized natural gas power in stages, Minister of Energy Suhail Al-Mazrouei said at a conference in Berlin. Clean energy sources will help it save $192 billion, he said.