The US and the United Arab Emirates announced a renewable-energy pact on Tuesday they say could lead to $100 billion of investments globally.

The so-called partnership for accelerating clean energy was signed in Abu Dhabi. It’s designed to ensure the creation of 100 gigawatts of renewable power by 2035 -- roughly double what was built in Europe and North America combined in 2020.

The United States and the United Arab Emirates have signed in Abu Dhabi a major new clean energy framework – the “Partnership for Accelerating Clean Energy” (PACE).  This memorandum of understanding is an important step forward in our joint efforts to accelerate our collective movement toward clean energy.  It will catalyze $100 billion in financing, investment, and other support, allowing us to accelerate toward a goal of deploying 100 gigawatts of clean energy by 2035.

Today the United States joined with the United Arab Emirates in taking a bold step toward the resilient, affordable clean energy future the world needs. Our new Partnership for Accelerating Clean Energy (PACE) will catalyze $100 billion in clean energy financing in both countries, as well as robust commercial investment and other support for the emerging economies whose clean development is both underfunded and essential to the global climate effort. Through PACE, the U.S.

ABU DHABI, Nov 1 (Reuters) - The United States and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, U.S. Secretary of State Antony Blinken said on Tuesday.

ABU DHABI, 1st November, 2022 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan has witnessed the signing of a comprehensive strategic partnership between the UAE and the US to accelerate the energy transition, advance shared climate goals and strengthen global energy security.

By Hessa Al Shuwaihi, Head of Communications and Public Diplomacy, UAE Embassy in Washington, D.C. and Munira Al Sayegh, Founder, Dirwaza Curatorial Lab

Virtual event opened by UAE Ambassador to the United States, Yousef Al Otaiba and attended by leading Emirati Corporations such as Mubadala, ADIA, ADNOC and Mashreq Bank.