The Holding Company adds Emirates Nuclear Energy to its portfolio

ENEC's provision of clean electricity supports diversification of power generation sources.

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The Holding Company (ADQ) announced the addition of the Emirates Nuclear Energy Corporation to its business portfolio in the utility sector.

This came according to a decree issued by the Executive Council of the Emirate of Abu Dhabi, whereby full ownership of the Corporation’s shares is transferred from the Abu Dhabi government to the “Holding”, provided that this decision is implemented upon its issuance.

"We welcome the Emirates Nuclear Energy Corporation's joining our business portfolio, which includes many of the most ambitious and successful companies in the emirate of Abu Dhabi," said the CEO of the Holding Company, Mohammed Hassan Al Suwaidi, in a statement issued yesterday.

He added: “We are working closely with our utility sector companies, which also include the Abu Dhabi National Energy Company (TAQA), the Abu Dhabi Sewerage Services Company and the Emirates Water and Electricity Company, to develop a solid national infrastructure, as it is vitally important in supporting the growth of Many other economic sectors ».

For his part, CEO of the Emirates Nuclear Energy Corporation, Mohamed Ibrahim Al Hammadi, said: “We are delighted to join the Holding Company as part of our commitment to promoting long-term economic diversification in the Emirate of Abu Dhabi. Strengthening the energy sector in the UAE and achieving its sustainability.

Al-Hammadi added, "With the start of operations of the Barakah peaceful nuclear power plants, we are finally working to provide clean electricity to the state, in accordance with the highest standards of safety and efficiency, by working with our various partners and local stakeholders."

In turn, the head of an investment portfolio at ADQ, Khalifa Sultan Al Suwaidi, said, “Nuclear energy plays an important role in the future of our country, and we look forward to working side by side with the Emirates Nuclear Energy Corporation as it continues to build its ambitious program to generate peaceful energy by applying the highest standards Global safety and quality ».

He pointed out that «the corporation’s provision of clean electricity produced from nuclear energy is one of the factors that support diversification of power generation sources, and ensure the reliability of the electricity network throughout the UAE.

The Emirates Nuclear Energy Corporation joins the strategic "Holding" (ADQ) portfolio in the utility sector, which also includes the Abu Dhabi National Energy Company (TAQA), Abu Dhabi Sewerage Services Company, and the Emirates Water and Electricity Company.

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