Latest news with #AlDhafraOpen-CycleGasTurbine
Zawya
07-04-2025
- Business
- Zawya
TAQA, EWEC ink power purchase agreement for $9.8bln project
Abu Dhabi: Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) jointly developed and implemented new energy infrastructure projects to advance the UAE National Strategy for Artificial Intelligence 2031, as well as the UAE Net Zero by 2050 initiative. TAQA inked a 24-year power purchase agreement (PPA) with EWEC to build, own, and operate the 1-gigawatt (GW) Al Dhafra Open-Cycle Gas Turbine (OCGT) project in the UAE, according to a press release. The ADX-listed company fully leads the OCGT project, taking over the operation and maintenance (O&M) works of the plant. Moreover, TAQA Transmission, part of TAQA Group, will develop advanced power grid infrastructure to integrate the additional generation capacity to new sources of energy demand. This move will secure access to reliable power with a low carbon footprint. The projects will support the recently announced EWEC and Masdar world-first project that will enable renewable energy to be dispatched 24 hours a day seven days a week. Furthermore, the collaboration will drive investment of around AED 36 billion in energy supply infrastructure in Abu Dhabi, with around 75% of that to be invested in renewable and conventional power generation. The remaining 25% will be invested in grid infrastructure, which will be added to the regulated asset base and will receive the regulated return. Jasim Thabet, Group CEO and Managing Director of TAQA and Vice Chairman of Masdar, commented: 'Providing reliable low-carbon power plays an important role in enabling the global energy transition.' Ahmed Ali Alshamsi, CEO of EWEC, said: '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 that balances sustainability with operational excellence.' 'As the UAE transitions into an AI-powered future, we are creating the foundation for a future where advanced technologies can flourish, while meeting the country's forward-thinking environmental and economic goals,' Alshamsi mentioned. At the end of December 2024, TAQA's net profits amounted to AED 7.33 billion, an annual surge from AED 16.82 billion.
Arabian Business
04-04-2025
- Business
- Arabian Business
Abu Dhabi National Energy Company
Abu Dhabi National Energy Company The 24-year agreement will build, own, and operate the Al Dhafra Open-Cycle Gas Turbine project and adds to the recent Masdar announcement Abu Dhabi National Energy Company EBITDA, excluding $2.94bn to acquire 5% stake in ADNOC Gas, was $5.83bn; CapEx up 63.8% as work progresses in Mirfa and Shuweihat projects Abu Dhabi National Energy Company Consortium signed 25-year Power Purchase Agreements to build two greenfield combined cycle gas power plants with combined capacity of 3.6 GW Abu Dhabi National Energy Company Strong showing by Water Solutions and Transmission & Distribution as net income surges to $1.72 billion), up 13.2% Abu Dhabi Prices a $850 million 12-year green bond at a coupon rate of 4.75%; $900 million 7-year conventional bonds bear a rate of 4.375% Abu Dhabi Abu Dhabi Distribution Company and Al Ain Distribution Company to be merged into a single company called TAQA Distribution Abu Dhabi The acquisition adds significant asset value and further enhances TAQA's predictable cashflow profile and earnings Abu Dhabi National Energy Company Build with cutting-edge technology, the plant in Jubail will supply 475MWs of power and nearly 452 tonnes per hour of steam Abu Dhabi Adjusted EBITDA up 4% to $2.97 billion; CapEx at $1.03 billion due to the construction progress of two major RO projects Abu Dhabi The company said its earnings were bolstered by the recognition of contributions from SWS Holding Abu Dhabi National Energy Company Orascom Construction and Metito will construct the world-class seawater treatment facility, as well as the transportation and distribution network Abu Dhabi National Energy Company Abu Dhabi National Energy Company lists $1.5bn bonds on ADX Abu Dhabi National Energy Company Abu Dhabi National Energy Company has met income of $3.7bn in first half of 2023 Abu Dhabi It increase TAQA's regulated asset base by more than 20 percent and help it expand into wastewater networks and treatment businesses Abu Dhabi National Energy Company These opportunities include new and existing power plants, as well as associated power infrastructure like transmission and distribution Abu Dhabi TAQA said it also entered into an agreement for the operations and maintenance of the Taweelah plant Abu Dhabi National Energy Company The company also posted a 14 percent increase in Group revenues to AED38.7 billion during the period
Arabian Business
04-04-2025
- Business
- Arabian Business
TAQA and EWEC sign PPA for 1GW as part of $9.8bn giga-scale project
Abu Dhabi National Energy Company (TAQA) has signed a 24-year Power Purchase Agreement (PPA) with Emirates Water and Electricity Company (EWEC) to build, own, and operate the 1-gigawatt (GW) Al Dhafra Open-Cycle Gas Turbine (OCGT) project. TAQA, with 100 per cent ownership, will lead the OCGT project and undertake the operation and maintenance (O&M) of the plant. TAQA Transmission, part of TAQA Group, will develop an advanced power grid infrastructure to integrate the additional generation capacity to new sources of energy demand, enabling access to reliable power with a low carbon footprint. TAQA leads energy shift The new 1GW capacity adds to Masdar's recently announced world-first 'round-the-clock' giga-scale project, which comprises 5.2GW of solar PV and 19GWh of battery storage to dispatch 1GW of renewable energy 24/7. It will be the world's largest combined solar and battery energy storage system (BESS). The collaboration between EWEC, TAQA, and Masdar, will drive investment of around AED36 billion ($9.8 billion) in energy supply infrastructure in Abu Dhabi. Around 75 per cent of the investment will be in renewable and conventional power generation. The remaining 25 per cent will be invested in grid infrastructure, which will be added to the regulated asset base and will receive the regulated return. The new project aligns with the UAE National Strategy for Artificial Intelligence 2031 and the UAE Net Zero by 2050 initiative. TAQA is one of the largest listed integrated utility companies in Europe, the Middle East, and Africa, while EWEC is a leading company in the integrated planning, purchasing, supply, and system despatch services of water and electricity across the UAE. Jasim Thabet, Group CEO and Managing Director of TAQA and Vice Chairman of Masdar, commented: 'Providing reliable low-carbon power plays an important role in enabling the global energy transition. Through our expertise in power generation and transmission, and as the largest shareholder in Masdar, TAQA plays a central role in advancing clean energy solutions in the UAE, and we remain committed to ensuring reliable, low-carbon power at all times.' EWEC supplies more than 55 per cent of the emirate's power demand through renewable and clean energy sources. Additionally, more than 92 per cent of water production will be supplied through state-of-the-art reverse osmosis technology, reducing water production emissions from 16 kilograms per cubic meter (kg/m³) in 2021 to 1 kg/m³ by 2031. Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, added: 'EWEC is pleased to partner with TAQA on transformative initiatives that will not only power the UAE's AI ambitions but also accelerate the nation's energy transition. 'By creating a future-ready energy framework that integrates next-generation renewable energy technologies and advanced transmission solutions, this collaboration sets a new global benchmark for sustainable energy systems that balances sustainability with operational excellence. 'As the UAE transitions into an AI-powered future, we are creating the foundation for a future where advanced technologies can flourish while meeting the country's forward-thinking environmental and economic goals.'
Zawya
03-04-2025
- Business
- Zawya
Energy infrastructure projects announced to advance UAE AI strategy, net zero initiative
ABU DHABI - Abu Dhabi National Energy Company (TAQA) together with Emirates Water and Electricity Company (EWEC), today announced the development and implementation of new energy infrastructure projects to directly advance the UAE National Strategy for Artificial Intelligence 2031, and UAE Net Zero by 2050 initiative. The transformative collaboration includes TAQA signing a 24-year Power Purchase Agreement (PPA) with EWEC to build, own, and operate the 1-gigawatt (GW) Al Dhafra Open-Cycle Gas Turbine (OCGT) project in the UAE. With 100 percent ownership, TAQA is leading the OCGT project and will undertake the operation and maintenance (O&M) of the plant. In addition, TAQA Transmission, part of TAQA Group, will develop advanced power grid infrastructure to integrate the additional generation capacity to new sources of energy demand, enabling access to reliable power with a low carbon footprint. The projects will support the recently announced EWEC and Masdar world-first project that will enable renewable energy to be dispatched 24 hours a day seven days a week, reaffirming the UAE's position as a global pioneer in renewable energy deployment and low-carbon infrastructure. Delivering up to 1GW of baseload power every day generated from renewable energy, it will be the largest combined solar and battery energy storage system (BESS) in the world. The collaboration between EWEC, TAQA, and Masdar, will drive investment of around AED36 billion in energy supply infrastructure in Abu Dhabi with around 75 percent of that to be invested in renewable and conventional power generation. The remaining 25 percent will be invested in grid infrastructure, which will be added to the regulated asset base and will receive the regulated return. Jasim Thabet, Group CEO and Managing Director of TAQA and Vice Chairman of Masdar, said, 'Providing reliable low-carbon power plays an important role in enabling the global energy transition. Through our expertise in power generation and transmission, and as the largest shareholder in Masdar, TAQA plays a central role in advancing clean energy solutions in the UAE, and we remain committed to ensuring reliable, low-carbon power at all times. As a champion of low-carbon power and water, we are proud to be a part of these world-class projects alongside our partner EWEC.' Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, said, 'EWEC is pleased to partner with TAQA on transformative initiatives that will not only power the UAE's AI ambitions but also accelerate the nation's energy transition. 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 that balances sustainability with operational excellence. As the UAE transitions into an AI-powered future, we are creating the foundation for a future where advanced technologies can flourish, while meeting the country's forward-thinking environmental and economic goals.'
