The UAE today announced its Energy Strategy 2050 aiming to invest Dh600 billion ($163.35 billion) to balance its economic needs with the nation's environmental goals.

The plan will integrate renewable, nuclear and clean fossil energy solutions, said HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, in a series of Twitter messages.

"The plan aims to increase usage efficiency by 40 per cent and increase clean-energy contributions to 50 per cent, with Dh700 billion ($190.58 billion) in savings by 2050," he said.

"Our 2050 goals for energy mix are to utilise 44 per cent renewable, 38 per cent gas, 12 per cent clean fossil and 6 per cent nuclear energy," said Sheikh Mohammed.

The UAE Energy Plan 2050 is set to reduce emissions of carbon dioxide (CO2) by 70 per cent during the generation of electrical power.