Latest news with #JasimThabet
The National
3 days ago
- Business
- The National
Abu Dhabi's Taqa keeping tabs on tariffs as it considers international expansion
Abu Dhabi National Energy Company, better known as Taqa, is closely monitoring the global tariff situation as it keeps the option of buying international assets on the table, its chief executive said on Wednesday. Nearly half of the company's capacity is deployed in Abu Dhabi, and it is 'not seeing any direct impact from the tariffs so far', Jasim Thabet told The National in an interview on the sidelines of the World Utilities Congress in Abu Dhabi. 'But we are keeping a close eye on the flow of trades … if there are any tariffs happening [and] if there are opportunities for us to look at new markets to acquire new companies or to invest in other projects,' he said. Mr Thabet said Taqa is focusing on boosting its renewables portfolio and is expected to increase investment to keep pace with the power needs of the booming data centre industry. The company, which in April announced an artificial intelligence-focused initiative expected to drive Dh36 billion ($9.8 billion) of investments, will 'continue to monitor the market for trends', he said. That programme – 'a very big component' of which focuses on renewables – is being implemented in co-operation with Emirates Water and Electricity Company and clean energy firm Masdar, in which Taqa is the biggest shareholder. 'There's a combination of a lot of things – populations are growing, there's a need for additional and efficient power,' Mr Thabet said. 'We're very well placed when it comes to investments.' Taqa aims to deploy more renewable forms of energy, and is addressing one of its biggest challenges – ensuring an efficient transmission network for their distribution. The company owns and operates transmission lines from its power and water plants to roads and homes, and requires operational efficiency to guarantee uninterrupted supply to users. 'There's a big deployment of renewables, so there are lots of opportunities for investment in renewables and also in networks,' he said. 'One of the biggest bottlenecks is rolling out all the transmission networks that will require [those investments].' Data centres consume a significant amount of energy to handle massive amounts of data. Some are using sustainable sources such as solar and water to cut consumption and costs. Power demand from data centres worldwide is predicted to more than double to about 945TWh by 2030. This is slightly more than Japan's entire electricity consumption, data from the International Energy Agency shows. In general, the bigger the data centres, the bigger their energy need. On a monthly basis, small, medium and large-size data centres are estimated to consume as much as 36,000kWh, 2,000MW and 10MW, respectively, according to industry tracker Data Centre World. The global data centre market is expected to surpass $1 trillion by 2034, surging more than 160 per cent from a projected $386.7 billion in 2025, according to Precedence Research. 'Renewables play a very important component of having a balanced supply of energy in the grid,' Mr Thabet said.
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
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.'
Khaleej Times
03-04-2025
- Business
- Khaleej Times
Taqa and EWEC sign power purchase agreement for 1GW of new advanced generation capacity
Abu Dhabi National Energy Company PJSC (Taqa), one of the largest listed integrated utility companies in Europe, the Middle East and Africa, together with Emirates Water and Electricity Company (EWEC), a leading company in the integrated planning, purchasing, supply and system despatch services of water and electricity across the UAE, on Thursday 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 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 per cent 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 24/7, 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 Dh36 billion in energy supply infrastructure in Abu Dhabi with around 75 per cent of that to be invested 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. 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.' EWEC has achieved a transformative milestone in Abu Dhabi's energy sector, now supplying 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 kilogrammes per cubic meter (kg/m³) in 2021 to 1 kg/m³ by 2031. These advancements reinforce Abu Dhabi's position as a global leader in sustainable utility operations.
Trade Arabia
03-04-2025
- Business
- Trade Arabia
UAE energy projects to support AI strategy, net zero goals
TAQA, Abu Dhabi National Energy Company, together with Emirates Water and Electricity Company (EWEC), have 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, reported WAM. 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.'
