PACE: UAE-U.S. Clean Energy Strategic Partnership

The United Arab Emirates and the United States launched a new bilateral Partnership for Accelerating Clean Energy (PACE), fighting climate change and funding clean energy technology. PACE aims to deploy $100 billion and 100 GW of green energy by 2035. Focusing on funding 15 GW of clean and renewable energy, the two countries announced in January 2023 the first wave of public-private investments into PACE with an initial envelope of $20 billion. 

Further commercial investment is expected to reach the 2035 target set by the agreement. The scope of new technologies and projects to be promoted include 1) Clean energy innovation, deployment and supply chains; 2) Carbon and methane management; 3) Nuclear energy; and 4) Industrial and transport decarbonization.

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