Oil windfall funds UAE’s global greenery
Burgeoning international renewables investment from Abu Dhabi serves both revenue diversification and foreign policy ends
Since its creation five decades ago, the UAE’s global clout and domestic wealth have rested primarily on its role as one of the world’s largest crude oil producers. Now, as the international energy transition gathers pace, Abu Dhabi is increasingly looking to replace some of that influence and income by expanding its renewables interests overseas—leveraging existing relationships and cementing new ones in the energy sector and beyond. With the emirate reaping near-record rewards from selling its oil and gas—at prices fuelling consumer appetite for renewables—the next couple of years are likely to see considerable progress. A pair of government-linked investments in India’s burgeoning clean p
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