The initiative is subject to approval by the regulatory authorities in Abu Dhabi and Dubai
A quadripartite alliance comprising Emirates Aluminium, TAQA, DUBAL and Emirates Electricity to promote solar energy and power plants
Emirates Global Aluminium, the Abu Dhabi National Energy Company (TAQA), Dubal Holding, and the Emirates Water and Electricity Company announced yesterday a major initiative that will enhance the development of solar energy generation capabilities in Abu Dhabi, develop power plants, improve generation, and be carbon neutral. In aluminum production operations in «Emirates Global Aluminium».
“Taqa” and “DUBAL”
“Taqa” and “DUBAL”
A statement stated that this initiative will enhance the growth strategies of "TAQA" and "DUBAL", and is currently undergoing negotiations, and obtaining regulatory approvals in both the Emirate of Abu Dhabi and Dubai, which supports the directions of "Emirates Global Aluminium", to become the first company in the sector. Global aluminum, heading towards achieving net zero emissions by 2050, while supporting the continuous development of strategic initiatives related to renewable energy for the Emirates Water and Electricity Company, which focus on reducing the carbon intensity of the energy sector.
TAQA and Dubal Holding are looking to acquire the power plants of Emirates Global Aluminium, with each holding a 50% stake.
The energy generated in these stations will be added to the electric power grid, under a long-term power purchase agreement, with its distribution through the Emirates Water and Electricity Company's Load Transfer Center.
According to the statement, Emirates Global Aluminium's power plants are located in its Jebel Ali and Taweelah sites, with a total capacity of 6,474 megawatts.
These plants include some of the most efficient turbines in the region, including the H-Class turbine in Jebel Ali, which was commissioned in 2021.
In turn, the Abu Dhabi Transmission and Control Company (TRANSCO), a subsidiary of TAQA, will connect these stations to the network, in addition to investing in the development of interconnection operations in order to modernize the electricity network to include new substations and enhance energy distribution in the UAE.
TAQA's acquisition of the plants will increase its production capacity to 23 gigawatts, in line with its growth strategy, to reach 30 gigawatts by 2030.
It is noteworthy that DUBAL owns 50% of Emirates Global Aluminium, and seeks to achieve its own goal of owning a strong and diversified group of power plants.
Emirates Global Aluminium will obtain electricity from the grid through a long-term agreement, which includes an increasing percentage of environmentally friendly energy from Emirates Water and Electricity, which will make it the largest consumer of electricity on the grid.
The steady demand for energy from EGA will increase the predictability of the overall power system of the grid and stimulate the EWEC's development of new solar projects.
Abdul Nasser bin Kalban, CEO of Emirates Global Aluminium, said that obtaining environmentally friendly, highly efficient and economic energy from the electric power grid will help the company lead the global aluminum sector towards a more sustainable future, to approach another historic step towards achieving net zero emissions. by 2050.
For his part, Jassim Hussain Thabet, Group CEO and Managing Director of TAQA, said that this potential acquisition of EGA's power plants will support TAQA's ambitions and goals for the year 2030, by adding significant value to shareholders, in addition to enhancing sustainability efforts. in the state.
In the same context, the CEO of the Emirates Water and Electricity Company, Othman Juma Al Ali, said that the company will be able, through this initiative, to increase the new production capacities of solar energy generation, diversify its energy generation sources with a focus on sustainability, and continue to promote carbon neutrality in electricity sector.
As for the CEO of Dubal Holding Company, Ahmed Hamad bin Fahd, he said: “Supporting the environment through organized and accurate investments in environmentally friendly energy projects is one of the pillars of our investment strategy, and because of the global trend and to reduce our carbon footprint, we look forward to implementing this initiative from By supporting (Emirates Global Aluminium) with the goal of achieving net zero emissions by 2050.”
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