emirates7 - At the 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure (MoEI), participated in a Ministerial Roundtable to announce the COP29 Action Agenda Green Energy Initiatives. During the event, he highlighted the vital role of energy storage in achieving the global target of tripling renewable energy capacity.
Al Olama stated, “Integrating more renewable energy sources necessitates robust storage solutions to ensure a stable and reliable energy supply. The International Energy Agency (IEA) projects that meeting global renewable targets will require significant investment in energy storage, with an estimated US$1.2 trillion needed by 2030.”
He explained that storage addresses the intermittency of renewables by capturing surplus energy generated during peak production and releasing it when demand is high. Without adequate storage infrastructure, up to 30% of renewable energy could be curtailed or wasted by 2030.
He also detailed the scale of the challenge, noting that achieving the tripling of renewable capacity will require adding approximately 11,000 GW of renewables worldwide by 2030. To support this, global energy storage capacity must expand dramatically from 30 GW to 620 GW. Al Olama highlighted the UAE’s advancements, such as the integration of battery storage at Dubai’s Mohammed bin Rashid Al Maktoum Solar Park, enabling the use of solar energy even after sunset. This aligns with IEA forecasts that hybrid systems like solar-plus-storage will constitute nearly 40% of new renewable projects by 2030.
Al Olama also emphasized the role of energy storage in reducing carbon emissions, noting the IEA’s estimate that decarbonizing the power sector by 2030 requires a 60% reduction in emissions. Effective storage increases renewable energy usage, lessens reliance on fossil fuels, and prevents approximately 1,500 metric tons of CO₂ emissions per GWh of stored renewable energy.
During COP29, Al Olama also spoke at a session titled *Shifting Gears: Accelerating Clean Hydrogen Deployment by 2030 to Reach Mid-century Targets.* He highlighted the UAE’s leadership under His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE President, in committing to ambitious climate goals, including being the first Middle Eastern nation to pledge net-zero emissions by 2050.
He outlined the UAE’s National Hydrogen Strategy, which aims to position the country as a global leader in the hydrogen economy. The strategy leverages abundant resources such as low-cost natural gas and advanced carbon capture, utilization, and storage (CCUS) technology to produce 1.4 million metric tons of low-carbon hydrogen annually by 2031, scaling to 15 million tons by 2050. This initiative targets decarbonizing hard-to-abate sectors like heavy industry, transportation, and aviation, while enabling the UAE to become a major hydrogen exporter to Europe and Asia.
In another session, *Hydrogen: Driving Decarbonisation in Hard-to-Abate Sectors,* Al Olama stressed the UAE’s dedication to reducing emissions in high-energy-demand industries, such as aviation, maritime shipping, and long-haul transport, which pose significant challenges to decarbonization. He called for global collaboration to meet climate goals and limit temperature increases.
He reiterated the UAE’s commitment under its Energy Strategy 2050 and Net Zero by 2050 Strategic Initiative, which includes tripling renewable energy capacity by 2030. By 2050, the UAE aims to reduce industrial energy demand by 33%, saving AED 14 billion and cutting emissions by 63 million tons, positioning itself among the world’s lowest emitters.
Al Olama stated, “Integrating more renewable energy sources necessitates robust storage solutions to ensure a stable and reliable energy supply. The International Energy Agency (IEA) projects that meeting global renewable targets will require significant investment in energy storage, with an estimated US$1.2 trillion needed by 2030.”
He explained that storage addresses the intermittency of renewables by capturing surplus energy generated during peak production and releasing it when demand is high. Without adequate storage infrastructure, up to 30% of renewable energy could be curtailed or wasted by 2030.
He also detailed the scale of the challenge, noting that achieving the tripling of renewable capacity will require adding approximately 11,000 GW of renewables worldwide by 2030. To support this, global energy storage capacity must expand dramatically from 30 GW to 620 GW. Al Olama highlighted the UAE’s advancements, such as the integration of battery storage at Dubai’s Mohammed bin Rashid Al Maktoum Solar Park, enabling the use of solar energy even after sunset. This aligns with IEA forecasts that hybrid systems like solar-plus-storage will constitute nearly 40% of new renewable projects by 2030.
Al Olama also emphasized the role of energy storage in reducing carbon emissions, noting the IEA’s estimate that decarbonizing the power sector by 2030 requires a 60% reduction in emissions. Effective storage increases renewable energy usage, lessens reliance on fossil fuels, and prevents approximately 1,500 metric tons of CO₂ emissions per GWh of stored renewable energy.
During COP29, Al Olama also spoke at a session titled *Shifting Gears: Accelerating Clean Hydrogen Deployment by 2030 to Reach Mid-century Targets.* He highlighted the UAE’s leadership under His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE President, in committing to ambitious climate goals, including being the first Middle Eastern nation to pledge net-zero emissions by 2050.
He outlined the UAE’s National Hydrogen Strategy, which aims to position the country as a global leader in the hydrogen economy. The strategy leverages abundant resources such as low-cost natural gas and advanced carbon capture, utilization, and storage (CCUS) technology to produce 1.4 million metric tons of low-carbon hydrogen annually by 2031, scaling to 15 million tons by 2050. This initiative targets decarbonizing hard-to-abate sectors like heavy industry, transportation, and aviation, while enabling the UAE to become a major hydrogen exporter to Europe and Asia.
In another session, *Hydrogen: Driving Decarbonisation in Hard-to-Abate Sectors,* Al Olama stressed the UAE’s dedication to reducing emissions in high-energy-demand industries, such as aviation, maritime shipping, and long-haul transport, which pose significant challenges to decarbonization. He called for global collaboration to meet climate goals and limit temperature increases.
He reiterated the UAE’s commitment under its Energy Strategy 2050 and Net Zero by 2050 Strategic Initiative, which includes tripling renewable energy capacity by 2030. By 2050, the UAE aims to reduce industrial energy demand by 33%, saving AED 14 billion and cutting emissions by 63 million tons, positioning itself among the world’s lowest emitters.