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US, UAE to fund 15-GW clean energy projects with $20B

US, UAE to fund 15-GW clean energy projects with $20B

Arab Finance: The US and the UAE will dedicate the first $20 billion out of their $100 billion clean energy partnership to fund 15 new gigawatts (GW) of renewable energy projects before 2035, Reuters reported, citing Emirati news agency WAM.

Led by the UAE’s Abu Dhabi’s Masdar and a consortium comprised US private investors, the investments would be financed through $7 billion in private sector cash equity and $13 billion in US debt financing and other instruments, WAM said.

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