Razan Al Mubarak: Investments in utilities accelerate global energy transition

Investments in utilities not only contribute to urban and industrial growth but also accelerate the global energy transition, COP High-Level Champion Razan Al Mubarak said at the Utility CEOs event during COP29.

Report quotes her as saying without ambitious investments, it is impossible to achieve the goals of tripling renewable energy and doubling energy efficiency by 2030, as outlined in the UAE consensus.

"For this, we must accelerate the development of large-scale grid infrastructure. Without sustainable, flexible, reliable grids, our ambitions for renewable energy and sustainable energy systems will weaken. Meanwhile, existing networks must adapt to handle growing demand, next-generation sources, and renewable energy variability. The scale of investment needed to create the grid infrastructure of the future is enormous," she said.