Shaikh Muhammad bin Rashid Al Maktum, Prime Minister of the UAE and ruler of Dubai, has announced an energy strategy for the UAE which calls for Dh600bn ($163.4bn) of investment in new generating and supply capacity and energy efficiency in the period to 2050.

The new strategy is based on anticipated annual growth in electricity consumption of 6% and includes a 50% contribution from “clean energy” – including nuclear as well as renewables projects.

The strategy aims to...