UAE_ US to spur $100bn in clean energy projects

The United Arab Emirates (UAE) and the United States have signed a partnership to spur $100bn of investments in clean energy projects and add 100 gigawatts of clean energy worldwide by 2035_ UAE's state news agency WAM reported on Tuesday.

"Together_ we will spur large-scale investment in new energy technologies_ in our own countries_ around the world and in emerging economies_" US energy envoy Amos Hochstein said a statement_ WAM reported.

The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation_ carbon and methane management_ advanced reactors including small modular reactors_ and industrial and transport de-carbonisation.

Under the initiative_ the two countries would provide technical_ project management and funding assistance for commercially and environmentally sustainable energy projects in other countries.

"The energy transition needs a realistic_ practical and economically viable plan to deliver climate progress together with energy security and inclusive economic growth_" Sultan Al Jaber_ UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change said.

The initiative will also focus on investing in responsible and resilient supply chains_ promoting investment in green mining as well as production of minerals and materials vital to the energy transition.