Along with financing hard infrastructure projects, Beijing also promotes soft power projects in the form of peopleto-people initiatives. However, such projects are low priority within the Belt and Road Initiative (BRI) in Central Asia. The Confucius Institutes, which appear to be an important vehicle for Chinese soft power in the region, are not directly linked to BRI and were launched before and independently of BRI.
Objective
The study explains the rationale behind the transition to a renewable energy source in one of the world's leading oil and gas producers. It also provides a comprehensive analysis of the risks that the rentier UAE may encounter in the process of shifting from a hydrocarbon dominated to a sustainable energy driven economy.
Methods
In‐depth expert interviews, secondary sources, and state official websites are used for data collection and analysis.
Results
Despite the successfully implemented several record‐breaking renewable energy projects, the rentier mentality, intermittent nature of the renewables, and geopolitical implications may prevent the UAE from emerging as a clear‐cut winner in the transition.
Conclusion
It is instrumental for the UAE to introduce policy innovations that would encourage stakeholders’ participation beyond the state and turn the system resistant to potential technical and geopolitical disruptions.
The resource-sharing mechanism, which ensured sufficiency and reliability of energy supplies within the Central Asian energy system (CAES) collapsed soon after the disintegration of the Soviet Union. Isolationist energy policies, both in terms of full self-reliance and self-control, without the establishment of self-sustaining independent energy systems, not only threatened security of energy supplies, but also, to a different extent, hampered the socio-economic development in Central Asia. In an attempt to mitigate the negative impact of the new energy policies, the Asian Development Bank (ADB) supported Central Asia Regional Economic Cooperation (CAREC) was introduced as one of the key programs to ensure sustainable access of the population and economies to energy. One of the top priority areas has been strengthening regional cooperative dynamics in the energy sector. Primarily focusing on regional cooperation CAREC attempts to solve the problem of uneven distribution and seasonal variation of energy production in the region, assuming that this would lead to better standards of life and economic growth. This article aims to analyze the extent of contribution of CAREC energy initiatives to improve energy security and promote energy–led economic growth in Central Asia through regional energy projects.
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