(MENAFN) The United Arab Emirates denied that the development of renewable energy projects will not be negatively impacted by the global decline in oil prices, which lost almost 60 percent of their value since June, Arab News reported.
"Our interconnected energy landscape has evolved beyond the point where the price of oil determines the fate of clean energy," Chairman of Masdar, Abu Dhabi's renewable energy company said.
Globally, investments in clean energy have increased by 16 percent during the past 12 months amounting to USD310 billion, while the production capacity of wind turbines and solar energy panels increased by 26 percent during the same period, producing 100,000 megawatts.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.