French newspapers: Black gold in the UAE funds green energy

December 9, 2015 3:00 pm

Many French newspapers praised the UAE’s decision to include environmentally friendly power-generation sources and invest $35 billion in nuclear and solar energy by the year 2021.

This will serve to diversify the country’s resources and reduce dependence on natural gas, as well as generate higher revenues from electricity.

France 24 website published an article hailing the Masdar City project in Abu Dhabi, which depends on environmentally friendly energy in the daily consumption of residential and commercial buildings, UAE-based Al Bayan newspaper reports.

The website adds that under “Masdar’s initiative”, the UAE plans to lower its dependence on imports of natural gas in electricity production from 100 per cent to 70 per cent by 2020.

France 24 adds that the UAE, which is one of the largest oil exporters in the world, offered aid worth $840 million for the completion of renewable energy projects in 25 countries.

For its part, French newspaper La Tribune praised the UAE’s step and said that this “Rich country” will work to reduce its dependence on natural gas from 100 per cent currently to 70 per cent by the years 2020 and 2021.

La Tribune points out that this diversity is aimed at ensuring the security of electric power supply in the future, the stability of consumer prices and a secure future.

The UAE intensifies its efforts to invest billions of black-gold funds in sustainable energy development and in preparing for the post-oil period.

($1=AED3.67, at the time of publishing)


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.