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December 19, 2023

U.S.-UAE Partnership for Accelerating Clean Energy

 

 

The U.S.-UAE Partnership for Accelerating Clean Energy (PACE) accelerates today’s technologies and commercializes the technologies of tomorrow to deliver low carbon energy and help us address the threat of climate change. Launched in November 2022, PACE focuses the diplomatic, economic, and technological resources of the United States and the United Arab Emirates towards the wholesale reinvention of our energy system to reach our shared net-zero emissions objectives.

PACE aims to catalyze $100 billion in investment and 100 gigawatts of clean energy globally by 2035. In addition, PACE will endeavor to push forward the commercialization of several key clean technologies needed for decarbonization in the coming years. PACE projects and collaborations can take place wherever energy is produced or consumed: in the United States, in the UAE, and in third countries. The PACE initiative is organized around four thematic pillars:

FACT SHEET: U.S.-UAE Partnership to Accelerate Transition to Clean Energy (PACE)

The Partnership for Accelerating Clean Energy

 

I. PACE Organization

on November 1, 2022, by Senior Advisor to the President for Energy and Investment Amos Hochstein and H.E. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Climate Envoy, and COP28 President-Designate. The same individuals serve as Co-Chairs of PACE, while COP28 Managing Director H.E. Ambassador Majid Al Suwaidi and Senior Advisor to the U.S. Special Presidential Envoy for Climate David Livingston serve as Deputy Co-Chairs. PACE is a whole of government initiative, with multiple points of contact within and between the United States and the UAE.

 

II. PACE Operations

Together, pillar teams coordinate across the two governments and their respective interagency partners to identify program and project-based areas of cooperation. They will seek to accelerate projects that cut emissions and expand opportunity through various government tools and areas of expertise and, in certain instances, in cooperation with the private sector, in accordance with the circumstances of each project or program.*

 

Program Cooperation: Pillar teams will identify opportunities for programmatic cooperation between the U.S. government and UAE entities to facilitate project deployment.

Project-Based Cooperation: Pillar teams will identify and elevate project opportunities through the PACE framework, with initial priority given to projects that can be announced by COP28.

*Legal disclaimer: Benefits of participation in PACE are illustrative and are neither guaranteed nor limited to these examples. PACE does not endorse any businesses or services, and engagement with PACE should not be construed as an endorsement.

 

III. PACE Project Criteria

Pillar teams will consider projects and initiatives on an individual basis that meet the following criteria:

  1. Fall within at least one of the four pillars;
  2. Demonstrate significant impact in terms of clean energy deployed, emissions abated, or new technology deployed; and
  3. Include both a U.S. and UAE nexus. includes, but is not limited to, a U.S. company operating in or exporting to the UAE, UAE investment in the United States, or a U.S. company or government agency working with a UAE entity in a third country anywhere in the world.

 

IV. Participating in PACE

For U.S. companies or entities interested in PACE, please reach out to the U.S. PACE team (PACE@state.gov) or to the UAE Embassy Trade Office in the United States to learn more about this opportunity. Please include in your outreach basic information about your project, which pillar it falls under, and the U.S.-UAE nexus. We will aim to respond to your submission within two weeks.

In addition to contacting PACE, we encourage U.S. companies bidding on specific international contracts or involved in other export opportunities to consider applying for commercial advocacy from the U.S. Department of Commerce’s Advocacy Center.  This is a free service for U.S. companies to help level the playing field as they compete against foreign firms for business in foreign markets.

 

V. U.S. Government Resources

Below are some U.S. government resources and programs that may support projects involved in PACE. Please review the agency and program websites below for full information on what may be relevant to your company or project. Please note that there is no U.S. government funding earmarked specifically for PACE. Projects can apply for funding and additional support from the government agencies and programs listed below through established channels. The PACE framework can support companies in identifying relevant resources.

 

Commerce Department

Commerce Department offers a range of free and for-fee services to U.S. companies seeking to export their products or enter a new market and foreign entities planning to invest in the United States.

 

Development Finance Corporation (DFC)

U.S. International Development Finance Corporation (DFC) is America’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today, investing across energy, healthcare, critical infrastructure, and technology. In December 2023, DFC and Masdar signed a letter of intent to collaborate on clean energy projects in developing countries.

 

 

Export-Import Bank (EXIM)

The Export-Import of the United States (EXIM) is an export credit agency. It assists in financing the export of U.S. goods and services to international markets. EXIM and Etihad Credit Insurance, the UAE’s export credit agency, signed a co-financing arrangement in May 2023 to create a one-stop shop facility that will provide joint support for U.S. and UAE exports. One-stop shop arrangements allow products and services from two (or more) countries to benefit from a single ECA financing package, streamlining the financing process and creating additional opportunities for both agencies.

 

Department of Energy’s Loan Program Office (LPO)

The Loan Program Office at the Department of Energy has loans and loan guarantees available to help deploy innovative clean energy, advanced transportation, and tribal energy projects in the United States. Foreign companies can receive LPO financing for deploying clean energy and manufacturing projects in the United States

 

Department of State’s Bureau of International Security and Nonproliferation (ISN)

State Department’s Bureau of International Security and Nonproliferation coordinates the Foundational Infrastructure for Responsible Use of Small Modular Reactor (SMR) Technology (FIRST) capacity-building program to support eligible partner countries that are exploring the potential for advanced nuclear reactor technology to meet clean energy needs consistent with the highest nuclear security, safety, and nonproliferation standards. Within FIRST, the provides a suite of advanced project preparation tools for eligible partner countries that are close to a potential SMR deployment decision.