Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) have jointly spearheaded new energy infrastructure initiatives aligned with the UAE National Strategy for Artificial Intelligence 2031 and the Net Zero by 2050 vision.
TAQA has signed a 24-year power purchase agreement (PPA) with EWEC to develop, own, and manage the 1-gigawatt (GW) Al Dhafra Open-Cycle Gas Turbine (OCGT) project within the UAE, as stated in an official announcement.
The company, listed on the Abu Dhabi Securities Exchange (ADX), will take full responsibility for leading the OCGT project, including all operational and maintenance (O&M) activities.
In addition, TAQA Transmission, a subsidiary of TAQA Group, will construct advanced grid infrastructure to accommodate the increased generation capacity and connect it with emerging sources of energy demand. This effort will ensure a steady supply of low-emission electricity.
These developments will underpin the recently unveiled initiative between EWEC and Masdar, a global first that will facilitate round-the-clock dispatch of renewable energy.
Jasim Thabet, Group CEO and Managing Director of TAQA and Vice Chairman of Masdar, remarked: “Ensuring access to dependable, low-carbon energy is critical to advancing the global energy transition.”
Ahmed Ali Alshamsi, CEO of EWEC, stated: “This partnership is establishing a world-leading energy framework that integrates cutting-edge renewable technologies and sophisticated transmission networks, offering a model that aligns sustainability with high-performance operations.”
Alshamsi added: “As the UAE embraces an AI-driven future, we are laying the groundwork for advanced technologies to thrive, while supporting the nation’s ambitious environmental and economic objectives.”
By the close of December 2024, TAQA reported net profits of AED 7.33 billion, marking a year-on-year increase from AED 16.82 billion.
