UAE minister says keen to invest in Pakistan’s renewable energy sector

The United Arab Emirates (UAE) is interested in exploring investment opportunities in Pakistan’s renewable energy sector, said Sultan Ahmed Al Jaber, the president of COP28 and the minister for industry and advanced technology in the UAE.

“We have been very keen to identify investment projects for our public and private sector organisations in the UAE, and work with our counterparts in Pakistan,” said Al Jaber, who is on a day-long official visit to Islamabad, during a conversation with Pakistan’s climate change minister Sherry Rehman.

“Whether it is in the conventional energy or in the alternative energy space, we are very keen to work with Pakistan in the renewable energy sector, and apply scale and capital in advancing renewable energy assets.”

The UAE minister said that the government is also interested in the conventional energy sector.

“We are happy to have discussions on the supply of products and LNG,” he said.

In response, Federal Minister for Climate Change Rehman welcomed UAE’s interest and cooperation on renewable energy. “Our government is very engaged in moving Pakistan in that direction,” she said.

Rehman shared that the government is seeking investment in the 10,000MW solar energy policy.

Pakistan heavily relies on imported fuels to meet its growing energy needs, which burns a hole in the pocket of the national coffers.

The climate change minister said Pakistan’s economic losses are mounting on account of worsening climate conditions. “We are now facing one event after another — mega floods in 2022, and we just faced a cyclone in 2023,” she said.

She highlighted Pakistan is facing several climate-induced challenges including water scarcity, forest fires, and the meltdown of glaciers. The minister said government wants to grow mangrove coverage by over 350,000 acres.

“While countries have made and stated ambitions, they have no way to actually practically implement them,” she said.

According to a press release issued on Wednesday, the visit took place on an official invitation extended by Climate Change Ministry Sherry Rehman to share Pakistan’s progress on climate and environmental goals ahead of the COP28 conference in UAE.

Minister Al Jaber will also call upon Prime Minister Shehbaz Sharif during the official visit.

The visiting official is accompanied by Hana Sayed Mohammad Alhashimi, the UAE Chief Climate Negotiator for both COP27 and COP28, as well as Majid Al Suwaidi, the Director-General and Special Representative of COP28.

Additionally, Ahmed Mohammed Al Kaabi, the Assistant Under-Secretary for Oil, Gas and Mineral Resources from the Ministry of Energy and Industry, and Hamad Obaid Ibrahim Salem Al-Zaabi, the UAE Ambassador to Pakistan, are part of the delegation, the press release added.