Latest news with #AhmedAlShamsi
Zawya
01-05-2025
- Business
- Zawya
UAE: E7 Group announces $40mln dividends backed by robust financial performance in 2024
Abu Dhabi – E7 Group's shareholders approved the distribution of AED 147.10 million (7.36 fils per share) in full-year dividends for 2024, according to a press release. The amount represents a 70% payout of annual distributable net profit, exceeding the group's established minimum payout of 50%. The approved dividend aligns with the company's objectives for capital allocation, which balances its active pipeline of value-accretive inorganic growth opportunities and the payment of ordinary dividends to shareholders. Ahmed Al Shamsi, Chairman of E7 Group, said: 'The maiden dividend payment is a result of E7's strong financial and operational performance in 2024, having strengthened our portfolio of long-term client contracts and made good progress on our strategic growth initiatives in the year.' During the annual general assembly meeting, the shareholders also approved the 2024 financial statements, announcing revenue growth of 11% year-on-year (YoY) to AED 701.20 million. In 2025, E7 plans to deliver its value proposition to turbocharge growth, with an integrated account management approach focused on customer centricity, extracting synergies from operations to boost innovation and excellence in every solution. Source: Mubasher
The National
03-04-2025
- Business
- The National
Taqa and Ewec to develop 1GW gas turbine plant in Abu Dhabi to support tech push
Abu Dhabi National Energy Company, better known as Taqa, has signed a 24-year power purchase agreement with Emirates Water and Electricity Company, to build and operate a one-gigawatt open-cycle gas turbine project in Al Dhafra as part efforts to support the UAE's technology needs. Taqa will both own and manage the plant, including its operation and maintenance. The company's subsidiary, Taqa Transmission, will build the grid connections to distribute the generated power, the companies said on Thursday. Open-cycle gas turbines are typically employed for short-term power boosts, not constant operation, to meet peak electricity needs. The projects will support the UAE's $6 billion 'round the clock' renewable energy facility announced by Masdar in January, which will combine 5 gigawatts of solar capacity with 19 gigawatt hours of battery storage to produce 1 gigawatt of clean power. The partnership between Ewec, Taqa and Masdar will drive investment of about Dh36 billion ($9.8 billion) in Abu Dhabi's energy infrastructure, with about 75 per cent allocated to renewable and conventional power generation and the remaining 25 per cent to funding grid infrastructure, the companies said. 'Providing reliable low-carbon power plays an important role in enabling the global energy transition,' said Jasim Thabet, group chief executive and managing director of Taqa. Ewec currently supplies more than 55 per cent of Abu Dhabi's power through renewable and clean energy sources and plans to raise it to 60 per cent by 2035. Last year, Ewec said there was urgent need for an additional 5.1 gigawatts of gas capacity in the emirate to support the integration of renewable energy projects and provide flexibility during peak demand, state news agency Wam reported. This includes 2.6 gigawatts of flexible and cost-effective open-cycle gas turbine capacity, expected to be available by 2027, along with about 2.5 gigawatts of combined-cycle gas turbine capacity by 2028, the company said at the time. 'By creating a future-ready energy framework that integrates next-generation renewable energy technologies and advanced transmission solutions, this collaboration is setting a new global benchmark for sustainable energy systems,' said Ahmed Al Shamsi, chief executive of Ewec. Under the updated objectives of the UAE Energy Strategy 2050, the country will invest between Dh150 billion and Dh200 billion by 2030 to ensure energy demand is met while sustaining economic growth in the Emirates. Projects under the plan include the 1.8-gigawatt sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the second phase of Dubai's waste-to-energy project, and two major photovoltaic projects – the 1.5-gigawatt Al Ajban plant and the 1.5-gigawatt Al Khazna – both in Abu Dhabi. Masdar alone aims to reach 100 gigawatts of renewable energy capacity by 2030, up from about 20 gigawatts at present.
Sharjah 24
29-03-2025
- Sport
- Sharjah 24
"Sport Before Iftar" concludes in Al Hamriyah
Weekly Community Participation The event took place over four weeks during Ramadan, specifically on Saturdays, Mondays, and Wednesdays, and was held at Al Hamriyah Beach Park. It attracted a large number of sports enthusiasts from the local community. Appreciation Expressed by Club Ahmed Al Shamsi, Executive Director of Al Hamriyah Club, conveyed his appreciation to the Sharjah Sports Council for its ongoing support of the "Sport Before Iftar" initiative, which has established itself as an annual tradition for clubs throughout the emirate during Ramadan. Thanks to Participants Al Shamsi expressed gratitude to the participants for their regular attendance and active involvement, highlighting that their enthusiasm showcases the community's deep interest in sports as a cultural activity during the holy month.
Gulf Today
11-03-2025
- Business
- Gulf Today
Taqa Water Solutions to develop major water project in Uzbekistan
Taqa Water Solutions has signed a Memorandum of Agreement (MoA) with the New Tashkent City Directorate to explore the development of a 65km raw water transmission pipeline and a cutting-edge water treatment plant in New Tashkent City, Uzbekistan. This agreement marks Taqa Water Solutions' second mega water infrastructure project in Uzbekistan and a significant step towards the vision of a modern and sustainable New Tashkent City by providing reliable, clean water to serve approximately 2 million people. The MoA signifies the commencement of a crucial phase in the development of this vital water infrastructure project, where, under the terms of the agreement, Taqa Water Solutions is granted a period of exclusivity to develop a comprehensive proposal for the project. This will involve conducting thorough technical and financial assessments to confirm the project's viability and develop proposals for a bankable, sustainable solution. The agreement was signed by Ahmed Al Shamsi, CEO of Taqa Water Solutions, and Maksud Abbaskhanov, Deputy Director of the New Tashkent City Directorate. Upon completion, the new water infrastructure project will provide sustainable drinking water sourced from the Charvak Mountain Reservoir to people in New Tashkent City. It will feature a state-of-the-art water treatment plant empowered with advanced technologies to ensure the delivery of high-quality drinking water that meets the highest international standards. The 65km raw water transmission pipeline will transport water, with a daily capacity of over 500,000 cubic metres, producing up to 20 megawatts of hydro-power to ensure a reliable and consistent supply of clean water, bolstering the continued growth and development of New Tashkent City by meeting its increasing current and future water needs. Al Shamsi commented, 'Building on last year's success in leading the development of Tashkent's largest wastewater treatment plant, we are eager to embark on developing comprehensive evaluations and assessments for this new project that will set new standards for sustainable resource management and contribute to the long-lasting wellbeing and prosperity of the New Tashkent City community.' Abbaskhanov, in turn, said, 'Developing this project will supply the people of New Tashkent with a reliable and sustainable operation that has proven its strength as state-of-the-art in the UAE, which goes alongside the reputation of Taqa Water Solutions and its engineers. This agreement is a significant step, and I am more than confident that the cooperation we have had over the past couple of months in developing this agreement has laid a solid foundation for the next steps.' Valued at Dhs2 billion, the project demonstrates an investment in the bright future and rapid growth of New Tashkent City. By securing the city's long-term water supply, the project paves the way for economic growth and aims to elevate the quality of life for the entire community. This project further strengthens the growing bilateral relationship between the UAE and Uzbekistan, highlighting the shared commitment to sustainable development and economic progress. Meanwhile in December 2024, Taqa Water Solutions has awarded a Dhs95 million project to develop a comprehensive Supervisory Control and Data Acquisition (SCADA) system across its treatment infrastructure, anchored by a new, centralised control facility. Announced during the IDRA World Congress 2024, the project aims to drive environmental sustainability to enhance operational efficiency, reduce the company's carbon footprint, and improve wastewater treatment capacity by approximately 20 per cent. Awarded to Electro Mechanical Company supported by consultants TVA Engineering, and using the latest Siemens technology, at the core of this project is a state-of-the-art SCADA system. The SCADA technology will enable integrated, real-time monitoring and control of Taqa Water Solutions' extensive network using over 2,000 high-performance sensors, transmitters and instruments. The project will link all plants in the Emirate of Abu Dhabi, with 91 per cent of Taqa Water Solutions' wastewater collection and treatment assets benefiting from this integration. This ensures seamless, real-time oversight and efficient management across the entire infrastructure with a network that spans over 13,000 kilometres in length, 43 treatment plants and 260 pumping stations. Taqa Water Solutions will leverage the new SCADA system to enhance operational efficiency and sustainability. By analysing and processing data gathered from across the emirate, SCADA enables the company to identify trends, monitor remote sites, and receive real-time event notifications.
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Taqa in deal to develop major Uzbek water project
Taqa Water Solutions has signed a Memorandum of Agreement (MoA) with the New Tashkent City Directorate to explore the development of a 65km raw water transmission pipeline and a cutting-edge water treatment plant in New Tashkent City, Uzbekistan. This agreement marks its second mega water infrastructure project in Uzbekistan and a significant step towards the vision of a modern and sustainable New Tashkent City by providing reliable, clean water to serve approximately 2 million people, said a statement from Taqa Water Solutions. The MoA signifies the commencement of a crucial phase in the development of this vital water infrastructure project, where, under the terms of the agreement, Taqa Water Solutions is granted a period of exclusivity to develop a comprehensive proposal for the project. This will involve conducting thorough technical and financial assessments to confirm the project's viability and develop proposals for a bankable, sustainable solution, it stated. The agreement was signed by Ahmed Al Shamsi, CEO of Taqa Water Solutions, and Maksud Abbaskhanov, Deputy Director of the New Tashkent City Directorate. Upon completion, the new water infrastructure project will provide sustainable drinking water sourced from the Charvak Mountain Reservoir to people in New Tashkent City. It will feature a state-of-the-art water treatment plant empowered with advanced technologies to ensure the delivery of high-quality drinking water that meets the highest international standards. According to Taqa, the 65-km-long pipeline will transport water, with a daily capacity of over 500,000 cu m, producing up to 20 megawatts of hydro-power to ensure a reliable and consistent supply of clean water, bolstering the continued growth and development of New Tashkent City by meeting its increasing current and future water needs. Valued at AED2 billion, the project demonstrates an investment in the bright future and rapid growth of New Tashkent City. By securing the city's long-term water supply, the project paves the way for economic growth and aims to elevate the quality of life for the entire community. On the deal, Al Shamsi said: "Building on last year's success in leading the development of Tashkent's largest wastewater treatment plant, we are eager to embark on developing comprehensive evaluations and assessments for this new project that will set new standards for sustainable resource management and contribute to the long-lasting wellbeing and prosperity of the New Tashkent City community." Abbaskhanov pointed out that this project will cater to the water needs of the people of New Tashkent. "This agreement is a significant step, and I am more than confident that the cooperation we have had over the past couple of months in developing this agreement has laid a solid foundation for the next steps," he noted.
