Mohamed bin Zayed launches a new strategic partnership for clean energy

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Mohammed bin Zayed However, the UAE is continuing to consolidate its capabilities and its leading role in the sector energyAnd it continues to transform challenges into opportunities and find practical and innovative solutions to secure a low-carbon future.

The partnership brings together three of the largest leading national companies, with a current and exclusive production capacity of more than 23 GW of renewable energy.

The total production capacity of the company is expected to reach more than 50 gigawatts by 2030, which means that the company "Source" It will become one of the largest clean energy companies in the world.

Under the announcement, the efforts of the three companies will be unified by integrating their investment portfolios in the field of renewable energy green hydrogen under the umbrella "Source", to take advantage of the company’s leading global position in the field of sustainable energy and its distinctive institutional identity.

On the occasion of the announcement of the partnership, Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC Group, said: "In line with the leadership’s vision of joining forces and enhancing cooperation to take advantage of partnership opportunities, this coalition brings together three of the largest companies in Abu Dhabi to allow us to keep pace with the transformation of the energy sector with strong momentum. This partnership, which coincides with the country’s celebration of its golden jubilee, marks the start of a whole new phase for the business of (Source) in the global clean energy field. We are confident that this strategic partnership will create many opportunities for growth and development in the field of renewable energy and hydrogen locally and internationally".

و :ضاف: "Having directed the leadership to found Masdar fifteen years ago, the company has succeeded in establishing itself as a multi-faceted initiative in the field of renewable energy and sustainability. After this strategic partnership, Masdar will enhance its role locally and globally, and we are confident that, through a share ADNOC Directly in Masdar and in close cooperation with our partners, we will present a new model through smart and innovative projects and initiatives in the energy sector to achieve additional value and drive sustainable growth in the country. UAE".

On his part, Khaldoon Khalifa Al Mubarak, Managing Director and CEO of the Group, said: exchange: "The increasing climate challenges require us to continue searching for innovative ways to produce clean energy. This strategic partnership is in line with Mubadala’s approach and its constant endeavor to enhance joint action, and also supports the vision of the UAE and its efforts as a leading country in addressing climate change. We look forward with interest to working with our partners "ADNOC" And"energy" To support the growth of a company "Source"and its path aimed at finding new solutions to climate challenges".

For his part, Mohamed Hassan Al-Suwaidi, Chairman of TAQA’s Board of Directors, said: "aspiring strategy "energy" To be the leading company in Electricity and water sector low carbon. There is no doubt that the acquisition of a controlling stake in the field of renewable energy in "Source", and enter into a partnership with "ADNOC" And"exchange" In the fields of renewable energy and green hydrogen, it allows us to raise our production capacity of clean energy to more than 50 GW by 2030, which qualifies us to become one of the largest companies in the Middle East and North Africa region and one of the leading global contributors to the production of renewable energy. The huge capabilities to produce clean energy and the opportunity to benefit from the distinguished expertise in this partnership will enable us to occupy a leading position in the green hydrogen sector in the world, and we look forward to being the leading national company in the field of developing clean energy solutions in the UAE and globally.".

The new partnership focuses on two main areas: renewable energy and"green hydrogen"Sultan Ahmed Al Jaber will continue in his role as Chairman of the Board of Directors "Source" To oversee its new strategy in the field of renewable energy and green hydrogen.

Under the agreement, you will "energy" The leading role in the field of renewable energy in "Source", where it will acquire 43%, while Mubadala will retain 33%, and ADNOC will acquire 24%.

In the field of green hydrogen, ADNOC will take the leading role and will own 43% of this project, while Mubadala and Taqa will own 33% and 24%, respectively.

The parties to the partnership will sign detailed agreements to establish this strategic partnership, in addition to completing the necessary procedures, including obtaining approvals from regulators and relevant third parties.

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Sheikh confirmed Mohammed bin Zayed However, the UAE is continuing to consolidate its capabilities and its leading role in the sector energyAnd it continues to transform challenges into opportunities and find practical and innovative solutions to secure a low-carbon future.

The partnership brings together three of the largest leading national companies, with a current and exclusive production capacity of more than 23 GW of renewable energy.

The total production capacity of the company is expected to reach more than 50 gigawatts by 2030, which means that the company “SourceIt will become one of the largest clean energy companies in the world.

Under the announcement, the efforts of the three companies will be unified by integrating their investment portfolios in the field of renewable energy green hydrogen Under the umbrella of “Masdar”, to take advantage of the company’s leading global position in the field of sustainable energy and its distinctive institutional identity.

On the occasion of the announcement of the partnership, Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC Group, said: “In line with the leadership’s vision of joining forces and enhancing cooperation to take advantage of partnership opportunities, this coalition brings together three of the largest companies in Abu Dhabi to allow us to keep pace with the transformation This partnership, which coincides with the country’s celebration of its golden jubilee, marks the start of a whole new phase for (Source) in the global clean energy field. We are confident that this strategic partnership will create many opportunities for growth and development in the field of renewable energy and hydrogen locally and internationally.”

He added: “After directing the leadership to establish (Masdar) fifteen years ago, the company has succeeded in establishing itself as a multi-faceted initiative in the field of renewable energy and sustainability. After this strategic partnership, (Masdar) will enhance its role locally and globally, and we are confident that through Period ADNOC Directly in Masdar and in close cooperation with our partners, we will present a new model through smart and innovative projects and initiatives in the energy sector to achieve additional value and drive sustainable growth in the country. UAE“.

On his part, Khaldoon Khalifa Al Mubarak, Managing Director and CEO of the Group, said: exchange: “The increasing climate challenges require us to continue searching for innovative ways to produce clean energy, and this strategic partnership comes in line with Mubadala’s approach and its constant endeavor to enhance joint action, and also supports the vision of the UAE and its efforts as a leading country in addressing climate change. We look forward with interest to working with Our partners in “ADNOC” and “TAQA” to support the growth of “Masdar” and its path to finding new solutions to climate challenges.

For his part, Mohammed Hassan Al-Suwaidi, Chairman of TAQA’s Board of Directors, said: “TAQA’s strategy aspires to be the leading company in Electricity and water sector low carbon. There is no doubt that acquiring a controlling stake in the field of renewable energy in “Masdar”, and entering into partnership with “ADNOC” and “Mubadala” in the fields of renewable energy and green hydrogen, allows us to raise our production capacity of clean energy to more than 50 GW by 2030 Which qualifies us to become one of the largest companies in the Middle East and North Africa region and one of the leading global contributors to the production of renewable energy. The huge capabilities to produce clean energy and the opportunity to benefit from the distinguished expertise in this partnership will enable us to occupy a leading position in the green hydrogen sector at the world level, and we look forward to being the leading national company in the field of developing clean energy solutions in the UAE and globally.”

The new partnership focuses on two main areas: renewable energy and “green hydrogen.” Dr. Sultan Ahmed Al Jaber will continue in his role as Chairman of the Board of Directors of “Masdar” to oversee its new strategy in the field of renewable energy and green hydrogen.

Under the agreement, “TAQA” will assume the leading role in the field of renewable energy in “Masdar”, where it will acquire 43%, while Mubadala will retain 33%, and ADNOC will acquire 24%.

In the field of green hydrogen, ADNOC will take the leading role and will own 43% of this project, while Mubadala and Taqa will own 33% and 24%, respectively.

The parties to the partnership will sign detailed agreements to establish this strategic partnership, in addition to completing the necessary procedures, including obtaining approvals from regulators and relevant third parties.







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