ADNOC, TAQA unveil global renewable energy & green hydrogen venture

By Arya M Nair, Official Reporter
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Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) have launched a new global renewable energy and green hydrogen venture at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

By 2030, the two companies will establish a clean energy powerhouse with a combined production capacity of at least 30 Gigawatts (GW) of renewable energy, placing Abu Dhabi and the UAE at the forefront of the energy transformation and expanding their global leadership role in green hydrogen.

The new strategic partnership will focus on domestic and international renewable energy and waste-to-energy projects, as well as the production, processing, and storage of green hydrogen and ancillary activities, and will combine ADNOC’s energy and hydrogen capabilities with TAQA’s renewables expertise, with big plans for local and international expansion.

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office, and Chairman of the Executive Committee of the Board of Directors of ADNOC, praised both companies for their visionary partnership, emphasizing how the UAE continues to proactively advance practical solutions and capitalize on opportunities to achieve its “Net-Zero by 2050 Strategic Initiative.”

Dr. Sultan bin Ahmed Al Jaber
Dr. Sultan bin Ahmed Al Jaber
Minister of Industry and Advanced Technology

“Today’s strategic partnership between two Abu Dhabi energy giants future-proofs ADNOC’s business model, creating compelling business and commercial opportunities, as we fully embrace the energy transition. This platform will enable ADNOC to capitalize on the many renewable energy and hydrogen opportunities, both locally and globally. As the UAE looks ahead to hosting COP 28 in 2023, our nation pledges an inclusive energy ecosystem, enabling sustainable future economic growth, for the benefit of Abu Dhabi and the UAE.”

The groundbreaking clean energy partnership brings together ADNOC and TAQA’s green hydrogen development projects by combining TAQA’s expertise in the development and optimization of renewable energy, especially low-cost solar power, with ADNOC’s ongoing efforts to create domestic and international hydrogen value chains.

In October, H.H. Sheikh Khaled bin Mohamed bin Zayed launched a new clean energy partnership between ADNOC and Emirates Water and Electricity Company (EWEC), with EWEC’s nuclear and solar clean energy sources providing up to 100 percent of ADNOC’s grid power.

H.E. Mohamed Hassan Alsuwaidi, Chairman of TAQA said, “TAQA has set out to become a champion for low carbon power and water and is already a world leader in solar power. This partnership between TAQA and ADNOC will be a powerful catalyst to unlock significant potential for accelerating the green hydrogen market and rapidly expanding renewable energy.”

Related: ADNOC invests $6bn on drilling equipment to boost gas sufficiency