Federal draft law to regulate mining investment sector: Al Neyadi

ABU DHABI, 13th January, 2017 (WAM)–The ministry of Energy is currently working on a draft federal law to regulate the mining investment sector in the state, the UAE official has said.

He added that the UAE Energy strategy 2050 aims to develop solutions and proactive plans to cope with any changes in the vital sectors, including the energy sector.

“This strategy will double the UAE’s efforts in clean energy and contribute to country’s increase in clean energy to 27 per cent by 2021, and 50 per cent by 2050,” Dr. Matar Hamed Al Neyadi, Under-Secretary of the Ministry of Energy, told Emirates News Agency, WAM, in an interview Al Neyadi noted that the strategy is based on four considerations, including supply, affordability, sustainability and bringing happiness to the consumer.

He added that the demand for energy continues to grow, noting that the availability of multiple sources of energy would help more provision and sustainability in a manner that could stimulate the global economy .

“The decline in solar energy prices and development in the storage technologies give an opportunity to compete in the largest share of the global energy mix,” Al Neyadi said.