UAE and Turkmenistan intend to intensify cooperation in the field of renewable energy
On Tuesday, 9 January, a meeting of the Turkmen delegation led by Deputy Foreign Minister B. Myatiyev, with the Minister for Foreign Affairs and International Cooperation of the United Arab Emirates, Sheikh Abdullah bin Zayed Al Nahyan took place in Abu Dhabi.
The agenda was topped with the discussion of the prospects for promoting investment partnership and cooperation in the field of renewable energy and infrastructure, according to the official news agency Emirates News Agency (WAM).
The sides also discussed a number of issues of regional and international importance of common interest and confirmed the mutual interest in developing bilateral cooperation aimed at the welfare of both peoples.
In turn, the head of the delegation of Turkmenistan highly appreciated the comprehensive transformations and high prestige, enjoyed by the Emirates on the regional and international arena thanks to the far-sighted policy of the country's leadership.
The meeting was also attended by Mohamed Sharaf Al-Hashmi, Assistant to the Minister of Foreign Affairs and International Cooperation for Economic and Trade Issues.
The UAE ranks fifth in Turkmenistan's top ten foreign trade partners. The company Dragon Oil, which develops oil and gas resources in the Turkmen sector of the Caspian Sea, is one of the most important investors in the fuel and energy sector of the country. Another company Petrofac is involved in the implementation of a service project at the world's second largest gas field Galkynysh.
The use of renewable energy sources can open wide opportunities in the Turkmen-UAE cooperation.
In both countries, the focus is made on the development of international cooperation in the field of solar energy. UAE is a home for one of the world's largest solar power plants such as Shams1, Mohammed ibn Rashid Al Maktoum Solar Park in Dubai and others. Turkmenistan, which relies on environment-friendly energy technologies, is interested in obtaining best practices in this field.
UAE intends to invest over $ 160 billion in renewable energy projects and increase the share of renewable energy in total power mix to 44% by 2050.
