Middle East

United Arab Emirates launches Etihad 7 program to fund renewable energy projects in Africa

The United Arab Emirates Ministry of Foreign Affairs and International Cooperation (MoFAIC) launched the Etihad 7 program to secure funding for renewable energy projects in Africa at the ongoing Abu Dhabi Sustainability Week 2022.

Etihad 7 aims to supply 100 million people with clean electricity by 2035.

Under the guidance and coordination of the United Arab Emirates MoFAIC and the Special Envoy for Climate Change, we will raise funds from the public and private sectors for clean energy investment.

The Etihad 7 Initiative will help African countries meet their rapidly growing energy demands without the corresponding spikes in greenhouse gas emissions.

“Connected economically, culturally, politically, and by person-to-person connections, our two regions are inextricably linked and have great potential for further cooperation in the coming years. One of the keys to unleashing potential, overwhelming the African economy and helping millions of people build a thriving continent is electricity, especially renewable energy, “said the Ministry of Foreign Affairs. Sheikh Shakhbout bin Nahyang Al Nahyang, Minister of State, said.And international cooperation, according to WAM..

“With Etihad 7, the UAE will integrate the United Nations Sustainable Development Goals 7 efforts for Africa under a single initiative. In line with the United Arab Emirates’ diplomatic policies and development goals, this program will be , Promotes sustainable development by solving key challenges that impede clean and affordable energy in emerging markets, “he added.

“We will leverage existing relationships in sub-Saharan Africa, including diplomacy, humanitarianism and development cooperation, to share UAE renewable energy expertise and drive economic and human development. Is a truly collaborative program that recognizes and adapts to the needs and requirements of partner countries. “

He said the UAE has already signed a number of agreements with its sub-Saharan African partners under Etihad 7 to participate in pursuing clean energy goals.

read: United Arab Emirates Business Leaders Welcomes COP28 in 2023

The UAE will host the Global Climate Change Conference COP28 in 2023. The United Nations Framework Convention on Climate Change (UNFCCC) stated that the UAE was selected at COP26 in Glasgow last November with unanimous approval by the Asia-Pacific Group.

Last year, the UAE announced a new Net Zero 2050 strategic initiative to reduce carbon emissions. The county will spend more than 600 billion dirhams on renewable energy until 2050. The UAE plans to source 50% of its energy from renewable energy sources by 2050. The UAE aims for an energy mix that combines renewable energy, nuclear energy and clean energy.

https://gulfbusiness.com/uae-launches-etihad-7-programme-to-fund-renewable-energy-projects-in-africa/ United Arab Emirates launches Etihad 7 program to fund renewable energy projects in Africa

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