The UAE has one of the highest sun exposures in the world with 10 hours of sunlight per day and approximately 350 days of sun per year giving it a high potential for developing solar technologies by leveraging the latest developments in the alternative energy sector. With an aggressive climate change policy, United Arab Emirates is keen on reducing carbon emissions by 70 percent, while augmenting the renewable energy production by 44 percent by 2050.
Paradigm Shift from Hydrocarbons
The GCC region, known predominantly as a hydrocarbon-based economy, however with the UAE government’s strategy strongly-focused on the diversification from an oil-based economy to rapid industrialisation, along with the increasing population and growing need for energy it has become essential for the government to devise strategies to ensure a secure future. Furthermore, the dropping costs have made the exceptional business case for renewable energy business operations in UAE.
UAE’s Clean Energy Plan 2050
As of January 2017, the UAE government has designed an energy plan for 2050 to balance between the production and consumption of energy. This strategy intends to diversify energy production by starting various forms of production such as clean coal, natural gas, nuclear, solar & wind power and biofuels.
Zayed Solar Academy
The establishment of Zayed Solar Academy in Malawi shows that the country's commitment to climate change, beyond financing and implementing projects. The UAE's leads the contribution to the creation of scientific and technical infrastructure for research & development in solar energy. The Zayed Future Energy Prize with awards worth $4 million was also launched for attracting innovators and technologists from all around the world.
Cutting-edge Energy Projects in UAE
- Masdar City, Abu Dhabi (World’s first carbon neutral city)
- Abu Dhabi Future Energy Company
- Shams 1 World’s largest concentrated Solar Park
- Gulf Geo-Thermal Energy Facility
- Hydrogen Power Abu Dhabi (HPAD)
- Dubai’s Mohammed Bin Rashid Al Maktoum Solar Complex
- Solar Park Research and Innovation Center, Dubai
- Center of Waste Management, Tadar (World’s most significant waste-to-energy facilities)
Clean Energy Opportunities for Entrepreneurs in UAE
UAE is a promising market for renewables. Several factors have congregated making the renewable energy an attractive option to invest and the best way to meet the UAE's energy demands through the upcoming years. There is strong support from the government for the industry's pressing demands while conserving oil & natural gas reserves and enhance the development of cost-competitive clean energy.
Why Set Up Renewable Energy Business in UAE?
- Strong governmental support
- Excellent Infrastructure & facilities
- Fewer economic barriers
- Favourable policies & lower prices
- Generous grants and investments
- Unprecedented growth in research & development
- High industrial and commercial energy needs
- Broad market reach in UAE and the Middle East region
- Growing demand for services supporting the energy production
Setting up a Business in the UAE’s Clean Energy Sector
The UAE has geared its economy by constructing purpose-built, specialised economic free trade zones with streamlined processes for encouraging the entrepreneurs, businesses and companies to set up their business in UAE. While promoting the research & innovation, UAE has always lent its hand to the support of technologist and innovators
Process for Setting up a Company in UAE
- Determine the legal form of the new business
- Register your trading name
- Select your specialised free zone
- Apply for a trade license and approvals from the regulatory bodies
- Apply for the office space lease or industrial land-use
- Acquire the relevant trade license from the Department of Economic Development (DED)
- Register your company with the free zone authorities
- Open a business bank account
- Apply for investor/entrepreneur visas and employee visas
- Companies & individuals interested in operating in the renewable sector must register with Dubai Electric and Water Authority (DEWA)
These comprehensive efforts by the government of UAE with its forward-looking vision, advanced infrastructure, visionary leadership and noteworthy policies. We can be definite that the long-term strategy of the government will undeniably serve the goal of offering cheap and permanent energy resources to the consumers. Starting business activities in UAE is favourable as government envisions the nation's growth by supporting businesses and actively encourages entrepreneurs & businesspeople to launch their ventures in the country by implementing business-friendly policies, lowering taxes and offering world-class infrastructure. If you're interested in starting your new business or expand your existing business to UAE feel free to contact us for any further information.