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U.S. and UAE sign strategic partnership deal to spur $100 billion in clean energy investment

CNBC · Anmar Frangoul · last updated

The United States and United Arab Emirates on Tuesday announced the signing of a strategic partnership that will see $100 billion mobilized to develop 100 gigawatts of clean energy by 2035.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.

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