January 13, 2020 / 7:29 AM / 10 days ago

UAE to double renewable energy portfolio again in next ten years - ADNOC

FILE PHOTO: Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, is seen on a screen during the Future Investment Initiative conference in Riyadh, Saudi Arabia, October 30, 2019. REUTERS/Hamad I Mohammed

ABU DHABI (Reuters) - The United Arab Emirates grew its renewable energy portfolio by more than 400% in the last 10 years, and is on track to double that again in the coming decade, Abu Dhabi National Oil Co.[ADNOC.UL] chief executive Sultan al-Jaber said on Monday.

ADNOC “will increase our carbon capture utilization and storage program by 500% ... to capture the same amount of C02 as 5 million acres of forest,” Jaber also told a sustainable energy event in the United Arab Emirates capital Abu Dhabi.

(This story corrects that target is for the United Arab Emirates)

Reporting By Dahlia Nehme, Writing by Maha El Dahan; Editing by Alex Richardson

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