(MENAFN) The UAE predicts savings produced by switching half its power needs to clean energy by mid-century will outstrip the investment costs.
Moreover, the Gulf nation aims to invest USD150bn in renewable energy by 2050, helping the country from dependency on subsided natural gas power in stages.
In Sep, Chinese panel maker JinkoSolar Holding Co. and Japanese developer won a tender for a solar plant in Abu Dhabi with a record offer of USD2.42 cents a kilowatt-hour.
In addition, Mideast states need to break their reliance on subsided gas power, where inefficiencies are endemic in the area.
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