Khalid bin Mohamed bin Zayed launches a strategic partnership in clean energy
His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi, Chairman of the Abu Dhabi Executive Office and Chairman of the Executive Committee of the Board of Directors of the Abu Dhabi National Oil Company (ADNOC), launched a strategic partnership in clean energy between ADNOC and the Emirates Water and Electricity Company.
According to the strategic partnership, which is the largest of its kind in the oil and gas sector, the Emirates Water and Electricity Company will supply ADNOC with the needs of its electrical network through electricity produced from clean nuclear and solar energy sources, according to which ADNOC will become the first oil and gas company that provides the needs of Its zero-emission electric power operations will commence from January 2022, consolidating its leading position among the least carbon-intensive oil and gas producers, and supporting its efforts and initiatives to reduce emissions and enable sustainable growth.
This strategic partnership provides the Emirates Water and Electricity Company with a primary consumer of the energy it generates from clean sources, which includes nuclear and solar energy, and supports its efforts to invest in transformative innovations to reduce emissions in the energy sector.
This pioneering partnership is in line with the UAE's approach and strategic initiative to achieve climate neutrality by 2050 and its orientation towards a low carbon future.
Commenting on the partnership, His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan said it is important to take advantage of the opportunities available to achieve the goal of climate neutrality for the UAE by 2050.
His Highness stressed that the agreement, which brings together two major entities, reflects efforts to reduce carbon emissions thanks to the diversity and strength of the country's energy portfolio, noting that these agreements contribute to the development of national economic diversification policies based on partnership and sustainability, in support of the country's next fifty-year plans.
His Highness stressed the importance of ADNOC's pivotal role in investing in transformative innovations, enhancing the country's efforts to reduce carbon emissions and supporting diversification of the national energy portfolio, noting that the agreement constitutes an opportunity to activate long-term plans and strategies to reduce carbon emissions in various operations carried out by ADNOC.
His Highness praised ADNOC's efforts and leadership in the sector, pointing out that the innovative ideas it presents contribute to the national economy and enhance the pace of its growth.
The partnership agreement was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, CEO of Abu Dhabi National Oil Company “ADNOC” and its group of companies, managing director, and Mohammed Hassan Al Suwaidi, CEO of the Holding Company (ADQ) and Chairman of the Board of Directors of the Emirates Water and Electricity Company.
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