At a cost of 14 billion dirhams
“ADNOC” and “TAQA”: Completing the financing of a project to transmit electricity under the sea
The Abu Dhabi National Oil Company (ADNOC) and the Abu Dhabi National Energy Company (TAQA) announced yesterday the completion of the financing of their strategic project, which aims to supply the production operations of “ADNOC” offshore fields with an environmentally friendly energy, which contributes to reducing carbon emissions, at a cost of 14 billion dirhams. 3.8 billion US dollars).
The innovative project, which is the first of its kind in the Middle East and North Africa region, aims to develop and operate a high-voltage direct current transmission system under the sea, to supply ADNOC's offshore production operations with more efficient and environmentally friendly energy by linking it to Abu Dhabi's onshore electricity grid. Affiliated with Energy.
The project, which is being jointly developed by ADNOC and TAQA, and a consortium of the Korean Electric Power Company (KEPCO), the Japanese Kyushu Electric Power Company, and the French Electricity Company EDF;
Rapid progress from planning to the development stage and the start of construction work in early 2022, which confirms the pioneering role of ADNOC and TAQA in advancing climate action and supporting the UAE's strategic initiative to achieve climate neutrality by 2050.
The consortium will construct, own, transfer and operate the advanced electricity transmission network in partnership with ADNOC and TAQA, with the entire project being returned to ADNOC after 35 years of operation.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Special Envoy of the UAE for Climate Change, Managing Director and CEO of ADNOC and its group of companies, Dr. Sultan bin Ahmed Al Jaber said: “ADNOC has established itself as a pioneer in implementing innovative and economically viable solutions for clean energy technology, reducing carbon emissions.
Emirates today À Abu Dhabi
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