Tadweer acquires waste to energy stake from Masdar
The move brings Tadweer Group and BEEAH, the region's sustainability and innovation pioneer, as joint venture partners in the Emirates Waste-to-Energy company.
The acquisition allows the two organisations to focus on their core business strategies, with Masdar increasing its clean energy capacity and Tadweer focusing on UAE operations and international expansion.
The Sharjah Waste-to-Energy plant, inaugurated in 2022, plays a vital role in diverting waste from landfills and converting it into electricity, supporting the UAE's sustainability objectives.
The Emirates Waste-to-Energy joint venture will jointly own and operate the plant, with plans to increase its power output from 30 MW to 60 MW, double processing capacity for hard-to-recycle waste, and reduce emissions.
Mohamed Al Ramahi, Chief Executive Officer of Masdar, said: 'We are proud of the impact this project has had within the UAE, and we extend our sincere thanks to BEEAH for their valued partnership since the inception of our Emirates Waste-to-Energy joint venture. As we transfer our stake, we are confident that Tadweer and BEEAH will continue to advance the project with strong leadership and a clear strategic vision.'
Ali Al Dhaheri, Managing Director and Chief Executive Officer of Tadweer Group, said: 'Acquiring this high-performing asset will further enhance Tadweer Group's capabilities and support the UAE's ambition to become a global leader in sustainable waste management and energy conversion. We look forward to working with BEEAH to build on the strong foundations it has laid working alongside Masdar.'
Khaled Al Huraimel, Group CEO of BEEAH Group, said: 'We thank Masdar for having partnered with us in the Emirates Waste-to-Energy joint venture and their support on the Sharjah Waste-to-Energy Plant, our inaugural, groundbreaking project. We look forward to further building on these accomplishments alongside Tadweer Group as a joint venture partner, marking a new chapter of growth and waste-to-energy innovation for the nation and the region.' - OGN /TradeArabia News Service
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