Latest news with #AED37
TECHx
2 days ago
- Business
- TECHx
TAQA Announces AED37B Investment for Data Hub Power
Home » Smart Sectors » Energy » TAQA Announces AED37B Investment for Data Hub Power Abu Dhabi National Energy Company (TAQA) has announced plans to invest over AED37 billion to support the power needs of Abu Dhabi's growing data and artificial intelligence hub. The announcement was made by Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director, during the World Utilities Congress 2025. He revealed the investments align with TAQA's broader strategy to provide clean, certified, and reliable energy for critical infrastructure. TAQA, with a market capitalisation of around AED360 billion, is among the top five companies in Europe, Africa, and the Middle East for electricity generation, transmission, and water desalination. The company operates in 25 countries. Over the past four years, TAQA has doubled its electricity production capacity. It now generates 56 gigawatts—more than the total electricity consumed by the United Kingdom. Key developments were also reported: TAQA acquired an 875-megawatt gas-powered station in Uzbekistan with Mubadala. The move supports Uzbekistan's energy transition and opens access to Central Asian markets. TAQA also acquired 'Transmission Investment', a UK-based platform focused on energy and utility infrastructure. Further, the company is building a 1-gigawatt gas turbine power station to enhance its clean energy portfolio. In partnership with Masdar, in which TAQA holds a major stake, it is developing 5 gigawatts of solar energy backed by 19 gigawatt-hours of battery storage. This integrated project aims to provide a steady 1-gigawatt energy supply for 24 hours. It is expected to become the world's largest solar-battery initiative of its kind. TAQA has announced it will invest AED75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts. As part of this strategy, the company plans to develop water desalination plants with a combined daily capacity of 1.3 billion gallons. Two-thirds of this will use efficient reverse osmosis technology.
Arabian Post
3 days ago
- Business
- Arabian Post
TAQA Commits Over AED37 Billion to Power Abu Dhabi's Data Centre Expansion
Arabian Post Staff -Dubai Abu Dhabi National Energy Company has unveiled plans to invest more than AED37 billion to meet the escalating power demands of the emirate's expanding data centre and artificial intelligence infrastructure. The announcement was made by Group CEO and Managing Director Jasim Husain Thabet during the World Utilities Congress 2025. This substantial investment is integral to TAQA's strategy to deliver clean, certified, and reliable energy to critical infrastructure. The company aims to support Abu Dhabi's ambition to become a global hub for digital innovation and AI development. ADVERTISEMENT TAQA's market capitalisation stands at approximately AED360 billion, positioning it among the top five companies in electricity generation, transmission, and water desalination across Europe, Africa, and the Middle East. Operating in 25 countries, TAQA has doubled its electricity production capacity to 56 gigawatts over the past four years, surpassing the total electricity consumption of the United Kingdom. The company's growth strategy includes significant international acquisitions. TAQA recently partnered with Mubadala to acquire an 875-megawatt gas-powered electricity station in Uzbekistan, aiding the country's energy transition and opening new markets in Central Asia. Additionally, TAQA has acquired Transmission Investment, a leading UK-based energy and utility investment platform, enhancing its capabilities in offshore transmission services and infrastructure development. In collaboration with Masdar, where TAQA holds a major stake, the company is developing 5 gigawatts of solar energy supported by 19 gigawatt-hours of battery storage. This integrated solar and battery system is designed to deliver a continuous supply of 1 gigawatt for 24 hours, marking it as the largest project of its kind globally. TAQA plans to invest AED75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts. Part of this strategy includes developing water desalination plants with a combined capacity of 1.3 billion gallons per day, with two-thirds utilising highly efficient reverse osmosis technology. The company is also exploring acquisition opportunities in the United States, identifying it as a key market for expansion. TAQA aims to spend around $20 billion between 2023 and 2030 on organic and inorganic growth, targeting 150 gigawatts of capacity by the end of that period, up from around 56 gigawatts currently.
Hi Dubai
07-04-2025
- Business
- Hi Dubai
UAE Launches Third Emirates Labour Market Award with AED50 Million Prize Pool
Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, the Ministry of Human Resources and Emiratisation (MoHRE) has launched the third edition of the Emirates Labour Market Award 2025—an initiative that honours excellence across the UAE's private sector and workforce. Recognised as the first of its kind in the country, the award celebrates outstanding companies and workers who set benchmarks in human resource practices and workplace innovation. This year, the initiative has expanded to recognise 98 winners, up from 84, with total prizes reaching AED50 million—marking a significant increase from AED37 million in 2024. A notable addition to this edition is a new subcategory under the 'Labour Accommodations' category, encouraging companies to invest in sustainable and recreational initiatives for employees, especially during national holidays. This move aims to foster workplace belonging, enhance productivity, and reinforce the UAE's values of compassion and unity. Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, emphasised the award's role in driving sustainable development, competitiveness, and innovation across the labour market, which has achieved global leadership in nine competitive indicators. The award spans five main categories, including Establishments, Outstanding Workforce, Labour Accommodations, Business Services Partners, and Special Recognition. Winning companies receive substantial incentives such as MoHRE service discounts of up to AED1.2 million and priority access to premium customer service. Individuals can win up to AED100,000. Applications are open at until August 31, with winners to be honoured at a prestigious ceremony in November. Evaluation will be conducted by specialised committees based on rigorous criteria promoting excellence, innovation, and social responsibility. News Source: Emirates News Agency
