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The US and the UAE have signed an agreement that will help galvanize $100 billion in investments to develop 100 GW of clean energy globally by 2035, as the two oil producers seek to boost their renewables portfolios amid net zero emissions targets.  "The US-UAE Partnership for Accelerating Clean Energy (PACE) is set to catalyze $100 billion in financing, investment, and other support and to deploy globally 100 gigawatts of clean energy by 2035 to advance the energy transition and maximize climate benefits," the White House said in a Nov. 1 statement.  The White House reflected on the need to bridge the gap between developed and developing countries in the investment in and deployment of clean energy, stating that the two countries intend to work together to prioritize commercial projects in developing and low-income countries as well as provide them technical and financial assistance."

US, UAE sign deal on $100 bil global investment in clean energy to 2035

The US and the UAE have signed an agreement that will help galvanize $100 billion in investments to develop 100 GW of clean energy globally by 2035, as the two oil producers seek to boost their renewables portfolios amid net zero emissions targets.  “The US-UAE Partnership for Accelerating Clean Energy (PACE) is set to catalyze $100 billion in financing, investment, and other support and to deploy globally 100 gigawatts of clean energy by 2035 to advance the energy transition and maximize climate benefits,” the White House said in a Nov. 1 statement.  The White House reflected on the need to bridge the gap between developed and developing countries in the investment in and deployment of clean energy, stating that the two countries intend to work together to prioritize commercial projects in developing and low-income countries as well as provide them technical and financial assistance.”

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