The Managing Director and CEO of the Emirates Nuclear Energy Corporation, Mohammed Ibrahim Al Hammadi, said that the Barakah nuclear plants provide the UAE about $7.4 billion annually.
This came during Al Hammadi’s speech on the first day of the launch of the World Utilities Conference in Abu Dhabi, in which he shed light on the UAE’s efforts to invest in environmentally friendly energy, according to what was reported by the Emirates News Agency “WAM”.
Al Hammadi explained that solar energy and peaceful nuclear energy have contributed over a decade to a quantum leap in the UAE energy sector, which has supported the country’s drive towards achieving carbon neutrality by 2050.
Challenges and solutions
The managing director and CEO of the Emirates Nuclear Energy Corporation said that the challenges facing the utilities sector are that the energy sector must continue to operate and produce, under a new, more complex framework to ensure energy security.
The sector also needs to produce the energy the world needs today in a more sustainable way, while meeting its climate commitments, conserving natural resources, and continuing to stimulate global economic growth and prosperity.
Al Hammadi added that the UAE has focused for years towards sustainability, energy security and diversification of its production sources, as it started the commercial operation of two of the four plants within the Barakah nuclear plants.
The climate role of nuclear energy
Al Hammadi explained that the Emirates Nuclear Energy Corporation is working to provide climate solutions, to accelerate the process of reducing carbon emissions on a large scale, in addition to promoting growth and developing peaceful nuclear energy technologies in the country.
And he continued, “Last March, the second station of the Barakah Peaceful Nuclear Power Plant began its commercial operation. Today, the plants produce 2.8 gigawatts of electrical energy, making it the largest source of environmentally friendly energy in the UAE.”
He explained that when the four Barakah plants are commercially operational, peaceful nuclear energy will provide about 25% of the country’s electricity demand, and will contribute to reducing carbon emissions in large quantities, as the plants will reduce 22.4 million metric tons of emissions annually.
Economic importance of stations
Al Hammadi said that there are significant economic benefits to the commercial operation of the Barakah nuclear plants, as a research paper by S&P Global indicates that it will reduce gas consumption by about one billion cubic feet per day, or 205,000 barrels of oil per day.
He pointed out that in financial terms, these figures mean saving about $7.4 billion annually, as well as preserving natural gas resources, which will help the UAE accelerate its transformation into one of the leading exporters of liquefied natural gas by 2030.
Al Hammadi added that due to the role of the Emirates Nuclear Energy Corporation in promoting progress, it has developed a sector capable of employing thousands of people in just 10 years, and has also acquired experience and knowledge in the peaceful nuclear energy sector, and local supply chains.
He continued, “All this is only a small part of the benefits and advantages provided by the Barakah nuclear plants, which are part of the UAE’s peaceful nuclear program, which contributes to strengthening the country’s efforts to achieve carbon neutrality.”
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