Abu Dhabi, UAE — The UAE has joined global partners such as the US, Japan, and South Korea to commit up to $275 million towards nuclear energy in Romania.
The announcement, made by US President Joseph Biden at the G7 Summit in Japan, is the first major nuclear energy initiative to be supported under the Partnership for Accelerating Clean Energy (PACE).
Support from the UAE and partners will go towards deploying a NuScale Small Modular Reactor (SMR) in Romania. The UAE’s engagement comes through the Emirates Nuclear Energy Corporation (ENEC), which will leverage its significant expertise in constructing and operating light water reactors and support key procurement, engineering, and project management.
$100 billion for 100GW clean energy
PACE was launched at COP27, in Egypt, in November 2022. It aims to catalyze $100 billion in financing, investment, and other support to deploy 100GW of clean energy capacity by 2035. The UAE and US established PACE to promote projects and new technologies to accelerate the energy transition and create economic opportunities globally.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and President-Designate of COP28, said, “The world needs to reduce emissions by 43 percent by 2030 to bring the goals of the Paris Agreement within reach. The only way to do this is to work together, build partnerships across regions and with public and private sectors, and invest in transformational, game-changing initiatives. PACE reflects precisely the sort of initiatives that we hope to see come out of COP28.
US-UAE shared commitment
Amos Hochstein, US Special Presidential Coordinator for Global Infrastructure and Energy Security, remarked, “This week’s announcement of continued support for the small modular reactor (SMR) project to be deployed in Romania is an example of the value of the US Partnership for Global Infrastructure Investment (PGII) and the US-UAE Partnership for Advancing Clean Energy (PACE).”
UAE’s commitment as COP28 host
As the host country for COP28, the upcoming UN climate conference, the UAE has made a just energy transition and access to clean energy technologies as essential priorities in the fight against climate change. The UAE COP28 Presidency has called for broad and inclusive partnerships, such as PACE, to help accelerate clean energy uptake.
The UAE has delivered one of the most ambitious energy transitions in modern history with key investments in solar and the delivery of the Barakah Nuclear Energy Plant.
Today, Barakah is the largest provider of clean electricity and green certificates in the UAE and the Arab world, generating 30TWh of carbon-free electricity per year from three units, with a total of 40TWh annually with the addition of Unit 4. With Barakah, the UAE drives energy security and grid stability, along with rapidly decarbonizing the UAE’s power sector.
Action plan for COP28
As the host country for COP28, the upcoming UN climate conference, the UAE has made a just energy transition and access to clean energy technologies essential priorities in the fight against climate change. The UAE COP28 Presidency has called for broad and inclusive partnerships, such as PACE, to help accelerate clean energy uptake.
ENEC’s nuclear excellence
The Barakah plant has four units, of which three are commercially operating, with the fourth set to join the operating fleet soon and will generate 25 percent of the UAE’s electricity while preventing the release of 22.4 million tons of carbon emissions annually. The plant is the largest source of clean electricity in the UAE and wider Arab region, generating electricity equal to billions of dollars of natural gas each year, which can be diverted to higher value uses.
It generates over 80 percent of the clean electricity for the Abu Dhabi Clean Electricity Certification Programme annually, enabling companies such as ADNOC, EGA, and others to produce greener products, demonstrating the impact nuclear energy has on decarbonizing hard to abate sectors.