UAE Seeks Major Investments in Alternative Energy Sector

The UAE is seeking $100 billion (Dh367 billion) of investments in alternative and sustainable energy projects by 2020. Eco-projects including bio-fuel production and alternative energy are already underway, according to Feras Dahlan, CEO of Dar Al Tawasol, a national company, and First Deputy Chairman of the Organizing Committee for the Investment Map Conference (IMC).  The goal of diversifying into alternative energy is to reduce dependence on oil and also to encourage investment in new areas. In an interview with Gulfnews.com Dahlan said,

“”We will work hard to attract investors from China, South Korea, the UK, Italy, Spain, the US, Argentina, Brazil, Russia and other countries which would be interested in launching projects in the country.”