Latest news with #EnergyStrategy2050
Mid East Info
08-05-2025
- Automotive
- Mid East Info
smart Partners with American University of Sharjah for ‘Get Active for Education' Walkathon to Fuel Scholarships
smart's AED 100-per-finisher pledge raises AED 10,000 for AUS scholarships smart drives campus engagement with 500+ through EV test drives and community games Sharjah, UAE –May 2025 – smart, the contemporary sustainable-mobility brand presented by AW Rostamani Group in the UAE, proudly partnered with the American University of Sharjah (AUS) as the official mobility partner for the three-day 'Get Active for Education' initiative (April 8–10, 2025). Blending healthy competition with charitable giving, the event raised critical funds for AUS's scholarship programme – empowering students facing economic barriers and students of determination to pursue their studies. During the three-day event, the first 100 finishers of the 2K walkathon triggered smart's AED 100 donation per participant, generating at least AED 10,000 for the AUS scholarship fund. More than 500 faculty, students and local businesses competed in the Corporate and Student Games semi-finals and finals, fostering teamwork, promoting healthy lifestyles and nurturing an inclusive spirit. Attendees also had the chance to test-drive smart's cutting-edge electric vehicles on campus, experiencing firsthand the brand's leadership in sustainable mobility. 'Our collaboration with AUS on Get Active for Education exemplifies smart's vision to lead with purpose,' said Roberto Colucci, Director of Electric Vehicles at AW Rostamani Group. 'Through combining physical activity with a scholarship drive, we're advancing sustainable transport while investing in the future of students who face social or financial barriers. Together with the AUS community, we're driving toward a more inclusive, forward-thinking tomorrow. We're excited to see the continued impact of this partnership and look forward to future collaborations that build on its success.' This partnership directly supports the UAE's Energy Strategy 2050, which aims to triple the contribution of renewable energy and achieve net-zero emissions by mid-century. smart's presence on campus demonstrated how electric mobility solutions can reduce carbon footprints, accelerate the transition to green energy, and engage communities in sustainability practices. At the closing ceremony, AUS presented smart with a commemorative plaque in recognition of its generous support and for raising awareness around accessibility in education. This accolade underscores the power of purpose-driven collaboration between industry leaders and academic institutions. The success of Get Active for Education highlights how sustainable-mobility companies can serve as catalysts for social progress – providing educational opportunities, promoting healthy lifestyles, and fostering environmental stewardship. Building on this momentum, smart looks forward to deepening its partnership with AUS and launching new initiatives that unite innovation with inclusivity. About smart: Since its inception in the 1990s, smart has pioneered urban electric mobility. In 2019, smart Automobile Co., Ltd. was established, adopting a 'China-Europe dual-home' strategy to become a world-leading, all-electric, new-premium brand. A joint venture between Mercedes-Benz and Zhejiang Geely Holding Group, smart combines cutting-edge R&D with sustainable production to deliver compact EVs designed for modern cities.
The National
02-04-2025
- Business
- The National
How UAE sovereign wealth funds are evolving to shape global finance
Sovereign wealth funds have long played a critical role in maintaining economic stability and ensuring national prosperity through calculated investment strategies. In the Gulf, such funds have evolved beyond their traditional roles, emerging as key players in sustainability, energy security and financial technology As architects of a new way of doing economics, the Abu Dhabi Investment Authority and the Dubai Investment Fund are among UAE institutions leading this transformation, propelling the UAE towards a diversified, post-hydrocarbon economy while expanding the nation's global influence and financial punch. Their collective assets, now worth well over a trillion US dollars, underscore their strategic significance — not just as financial reserves but as agents of economic change. The UAE's wealth funds no longer merely safeguard capital — instead they are actively shaping the global investment landscape. By channelling capital into sustainable finance, technological innovation and impact-driven investing, ADIA and DIF are accelerating financial inclusion, reinforcing global energy security and ensuring that future generations inherit an economy that is resilient, forward-thinking and globally integrated. The shift is deliberate. ADIA, historically recognised for its measured and long-term investment approach, has been systematically expanding into renewable energy, infrastructure resilience and climate-conscious assets. Its holdings now include major green infrastructure funds, solar energy projects and investments in clean hydrogen technology, aligning closely with the UAE's Energy Strategy 2050, which aims for 50 per cent of national energy to come from clean sources by the middle of the century. Although ADIA has not publicised direct investments in offshore wind, it has positioned itself as a key stakeholder in the transition to a low-carbon economy, reinforcing Abu Dhabi's ambition to be a global leader in sustainable energy. Its collaboration with Masdar, the UAE's flagship renewable energy firm, is a testament to this commitment, ensuring that capital flows into the next generation of clean energy solutions. Dubai's investment strategy has taken a different but equally bold approach, focusing on financial technology, digital finance and smart infrastructure. DIF has aggressively invested in fintech, blockchain and AI-driven financial solutions, securing Dubai's place as a leader in digital banking and alternative payments. However, although DIF plays a pivotal role in supporting fintech, the broader regulatory and infrastructural development of the UAE's financial technology sector has been spearheaded by the Dubai International Financial Centre and the Dubai Financial Services Authority. DIF's role has been targeted, ensuring that capital flows into high-growth areas such as AI-driven payment platforms, SME lending technologies and decentralised finance initiatives. Financial inclusion, once an afterthought in the region, has rapidly become a central theme in the UAE's economic vision, though much of the heavy lifting in this space has been carried out by the Central Bank of the UAE and Abu Dhabi Global Market. DIF has contributed by funding fintech start-ups that enhance digital financial accessibility, but it is not the primary driver of financial inclusion policy. The broader movement toward a more inclusive financial system has been fuelled by regulatory reforms, digital banking expansions and investments in alternative credit solutions that improve access to capital for underserved segments. The integration of environmental, social and governance principles has also been a defining characteristic of the UAE's sovereign investment strategy. ADIA, as one of the early signatories of the UN Principles for Responsible Investment, has embedded climate risk assessments, corporate governance frameworks and sustainability metrics into its investment process. Today, every ADIA allocation undergoes rigorous sustainability screening, ensuring that its financial returns are aligned with environmental and social responsibility benchmarks. Beyond domestic markets, the global reach of ADIA and DIF is rapidly expanding. Capital is flowing not only into the UAE but into North America, Europe and Asia, where investments in technology, renewable energy and infrastructure are shaping long-term economic trends. While there has been increased discussion about investments in Africa and Latin America, ADIA and DIF have remained focused primarily on high-growth, stable markets that offer predictable returns and strategic leverage. One of the most defining aspects of the UAE's sovereign wealth strategy is its influence on global energy security. As nations race to diversify energy sources amid shifting geopolitical pressures, the UAE is actively positioning itself as a central player in the clean energy transition. By funding large-scale solar projects, green hydrogen infrastructure and critical resource investments such as rare earth minerals, ADIA and DIF are securing the supply chains that will define the energy markets of the next century. As the world's demand for decarbonised energy solutions grows, the UAE's wealth funds are ensuring that the country remains not only a supplier but an architect of the new energy economy. What sets the UAE's sovereign wealth strategy apart is its commitment to long-term transformation rather than short-term market reactions. While the Gulf's economic strength was historically built on hydrocarbons, today's funds are writing a different future, one centred on technology, sustainability and financial innovation. With ADIA and DIF driving this shift, the UAE is ensuring that its economic foundations remain strong, adaptive and globally competitive for generations to come. Today economic uncertainty is increasingly defined by energy transitions, technological disruptions and shifting financial landscapes. Amid these, the UAE is not merely reacting, it is leading. Through ADIA and DIF, the country is laying the groundwork for a global financial future in which sustainability, innovation and economic inclusivity are the true benchmarks of success, making a great case study for others to follow.
Zawya
02-04-2025
- Business
- Zawya
Dubai based Roxtec Middle East reports clean power driving best year of trading
The Jebel Ali Freezone based company has grown its power division by 20 per cent and its headcount to 20 with three new hires in the last year. This comes after the company won a number of high-profile power contracts. This includes supplying Project Lightning, the first subsea cable project in the Middle East. The $3.8billion project provides a high-voltage direct-current (HVDC) transmission system for Abu Dhabi National Oil Co (ADNOC) offshore operations to the onshore power grid in the United Arab Emirates. The project required Roxtec to design bespoke cable sealing solutions to manage the HVDC switching from AC to DC power between sea and land. The Roxtec seals are designed to provide water ingress and electromagnetic interference protection for four subsea cable seals carrying power of up to 400 kilovolt (Kv) stretching over 100km on the seabed. The project which connects low-carbon power from the mainland grid to ADNOC's production operations will reduce the carbon footprint of the offshore facilities by up to 30 percent. Roxtec power and processing manager Ihab Zourob said the company will be showcasing its wide range of cable sealing products at the forthcoming Energy Middle East trade show at Dubai World Trade Center April 7-9. Mr Zourob said Roxtec is seeing increasing demand for its seals in the clean energy sector in the MENA region including for batteries, solar, green hydrogen, nuclear, windfarms, HVDC projects as well as traditional oil and gas facilities. He pointed to the UAE leading the world in its Energy Strategy 2050 which aims to achieve net-zero emissions by 2050. This includes tripling renewable energy capacity and increasing the share of clean energy in the total energy mix to 30% by 2030, and 50% by 2050. Roxtec is again helping with this decarbonization drive working with ADNOC on its first carbon capture project at the Habshan gas plant. Here Roxtec's multidiameter technology is being used as the cable sealing solution protecting the facility from a range of hazards. 'The last year has been very strong for Roxtec in the power industry,' he said. 'The changing nature of energy demand in the UAE and the country's drive to net zero means more complex sealing solutions are required. Roxtec's cable seals protect buildings, people and infrastructure from a wide variety of hazards including explosions, fire, electromagnetic interference and flooding. With new sources of clean power emerging in the MENA region the cable sealing has to be extremely robust to manage different types of hazards to maintain the power supply.' Mr Zourob said the Swedish owned Roxtec Group's experience of working on power projects all over the world enables it to bring ready solutions to nuclear, windfarm, solar and subsea projects to the MENA region. 'As the Gulf region evolves its power sources engineering companies and power companies want cable sealing projects which are proven to work,' he said. 'We have extensive experience of providing seals to wind turbines and substations on every windfarm in Europe for example. We have also worked on nuclear power plants and subsea cables around the world. This enables us to design bespoke solutions for very big projects here in the Persian Gulf.' Mr Zourob confirmed Roxtec has appointed new Sales Managers in Basra, Iraq and Tunisia to cover North Africa countries in the last 12 months to drive growth and support customers on the ground. Contact Roxtec Middle East FZE visit:
