TAQA, EWEC Launch $9.8 Billion Energy Projects to Boost UAE's AI Goals

The Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) have entered a 24-year Power Purchase Agreement to develop the 1GW Al Dhafra Open-Cycle Gas Turbine (OCGT) project, marking a significant step towards the UAE’s National Strategy for AI 2031 and its Net Zero by 2050 goals. TAQA will fully own and operate the facility, while its subsidiary, TAQA Transmission, will enhance grid infrastructure to accommodate new energy demands. This initiative is part of a broader investment of approximately AED 36 billion in energy infrastructure, with 75% allocated to renewable and conventional power generation, and 25% to grid expansion. Additionally, the project supports the EWEC and Masdar initiative aimed at providing continuous renewable energy, contributing to the world's largest solar and battery energy storage system. Jasim Thabet, TAQA's CEO, emphasized the company's commitment to delivering reliable, low-carbon power solutions. This collaboration reinforces the UAE's position as a leader in sustainable energy development.