The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered a transformation of the UAE’s energy sector, ensuring the nation is ahead of the curve on achieving Net Zero by 2050, said Mohamed Ibrahim Al Hammadi, Managing Director and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC).
Al Hammadi was delivering keynote address on the day one of the the inaugural World Utilities Congress, taking place this week in Abu Dhabi, UAE.
He said that for many years the UAE leadership has focused on sustainability, energy security and energy diversification. With the commercial operation of two of the four Units at the Barakah Nuclear Energy Plant, ENEC is delivering a climate solution today that enables rapid large-scale decarbonization alongside growth and continues to develop nuclear technology in the UAE as a catalyst for further innovation in the clean energy transition, he added.
Barakah is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country. With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand. It has also delivered large-scale decarbonization and when fully operational, the plant will prevent around 22.4 million metric tons of carbon emissions every year, he said.
There are major economic benefits too. A recent research paper by S&P Global shows that Barakah will reduce gas consumption by around 1,000 million cubic feet per day or 205,000 barrels of oil per day in equivalence. This is a financial saving of almost 7.4 billion US dollars per annum in terms of oil barrels, according to Al Hammadi.
More importantly, Barakah saves precious natural gas resources to allow the UAE to accelerate its path to becoming a net LNG exporter by 2030.