On August 17, the State Agency on Energy Efficiency and Energy Saving (SAEE) and Ministry of Energy and Industry of the United Arab Emirates inked a Memorandum of Understanding on Energy Efficiency and Renewable Energy.

"Through cooperation, we will exchange experience and step up the implementation of common investment projects in the fields of energy efficiency, clean energy and waste processing," Serhii Savchuk, SAEE commented.

Ukraine continues to develop international relations and becomes a strong player in the global renewable energy market.

It is noteworthy to mention that the UAE has significant resources of oil and gas, but it is keen on developing clean energy. Thus, the goal of the UAE Energy Strategy until 2050 is to achieve at least 44% of clean energy in the energy balance.

Moreover, the world’s largest solar park is under construction in Dubai. The solar park will generate 1,000MW by 2020 and 5,000MW by 2030.

In addition, the International Renewable Energy Agency (IRENA) is headquartered in Abu Dhabi. Ukraine became a member of IRENA in February, 2018. The relevant Law of Ukraine dated December 5, 2017 No. 2222-VIII was developed by the State Agency on Energy Efficiency and Energy Saving.