UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister.
Speaking at the International Petroleum Technology Conference 2020 in Riyadh, Al-Mazroui said the huge saving prompted the UAE to think seriously about using cleaner forms of energy.
He said the UAE is no longer just an oil producer but also a promoter of green energy, according to Saudi media reports.
Al-Mazroui said his country is working on 40 international projects helping other countries implement solar and wind projects.
Talking about the fast-emerging hydrogen market, he said the UAE aims to be part of the market. The Gulf country has plans to capture 25 percent of the global hydrogen market share, he added.
“The UAE is bulling about future of green (energies),” the minister said but stressed the need for investment in fossil fuel with an emphasis on producing low-carbon oil.