UAE invests $4.5 billion in clean energy in Africa

The United Arab Emirates announces a $4.5 billion investment in clean energy in Africa at the African Climate Summit. This initiative aims to develop 15 GW of clean energy by 2030 and mobilize an additional $12.5 billion.

Share:

The United Arab Emirates is committed to investing massively in clean energy in Africa.

Major initiative: UAE invests $4.5 billion in African clean energies

The United Arab Emirates has announced a $4.5 billion (€4.1 billion) investment in clean energy in Africa. This commitment was made at a climate summit aimed at attracting financing to combat global warming on the African continent.
Sultan Al Jaber, head of Masdar, the Emirati oil giant ADNOC, and negotiations chairman for the upcoming COP28 in Dubai, said, “We will deploy $4.5 billion to launch a pipeline of profitable clean energy projects on this very important continent.”
He also stressed that if Africa lost, it would have a global impact.

United Arab Emirates targets 15 GW of clean energy in Africa by 2030

The aim of this investment is to develop 15 GW of clean energy by 2030, and to mobilize at least a further $12.5 billion from multilateral, public and private sources. By 2022, Africa’s renewable energy capacity will have reached 56 gigawatts.

The announcement comes at the first African Climate Summit in Nairobi. It aims to promote Africa’s clean energy potential. African leaders are calling for major international investment to support their energy transition.

The Nairobi summit also aims to establish a common continental vision on climate in preparation for the forthcoming international climate negotiations. This includes COP28 in Dubai from late November to early December 2023.

Why it matters

The United Arab Emirates’ massive investment in clean energy in Africa is crucial. To combat global warming and support the continent’s development. This initiative could act as a catalyst for further international funding. This will contribute to Africa’s energy transition, while strengthening global cooperation on climate issues.

The European Commission is launching an alliance with member states and industrial players to secure the supply of critical chemicals, amid growing competition from the United States and China.
Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.
Egypt’s Electricity Minister engages in new talks with Envision Group, Windey, LONGi, China Energy, PowerChina, and ToNGWEI to boost local industry and attract investments in renewable energy.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.