UAE shows interest to invest in Pakistan’s renewable energy sector

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Sultan Ahmed Al Jaber, the president of COP28 and the UAE’s minister for industry and cutting-edge technologies, stated that the United Arab Emirates (UAE) is interested in looking into investment prospects in Pakistan’s renewable energy sector.

Al Jaber, who is in Islamabad for a day-long official visit, said to Pakistan’s minister for climate change Sherry Rehman, “We have been very keen to identify investment projects for our public and private sector organisations in the UAE, and work with our counterparts in Pakistan.”

“We are eager to collaborate with Pakistan in the renewable energy industry and use size and finance in expanding renewable energy assets, whether it be in the conventional energy or alternative energy arena.”

The government is also interested in the traditional energy industry, according to the UAE minister.

We are excited to talk about the delivery of goods and LNG, he remarked.

In response, the UAE’s interest in and collaboration with renewable energy were warmly received by Federal Minister for Climate Change Rehman. “Our government is very engaged in moving Pakistan in that direction,” the woman stated.

According to Rehman, the government is looking for funding for its 10,000 MW solar energy plan.

Pakistan’s rising dependence on imported fuels to cover its energy demands burns a hole in the national budget.

The visit occurred in response to an official invitation from Pakistan’s Climate Change Ministry Sherry Rehman to discuss updates on the country’s environmental and climate goals in advance of the COP28 summit in the United Arab Emirates, according to a press statement released on Wednesday.

A meeting with Prime Minister Shehbaz Sharif will also take place during the formal visit by Minister Al Jaber.

Majid Al Suwaidi, the Director-General and Special Representative of COP28, and Hana Sayed Mohammad Alhashimi, the UAE’s Chief Climate Negotiator for both COP27 and COP28, are accompanying the visiting official.