Abu Dhabi National Oil Company (ADNOC) is setting up a new partnership with Abu Dhabi National Energy Company (TAQA) towards the creation of a powerhouse with a capacity of at least 30 GW in renewable energy by 2030. This was outlined in a statement released by the company.
The new strategic alliance will prioritize local and foreign renewable energy and waste-to-energy projects, as well as the production, processing, and storage of green hydrogen and ancillary activities.
“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,” TAQA Chairman, Mohamed Alsuwaidi said.
The UAE’s plan for net-zero emissions by 2050 was first announced last October. The UAE also plans to oversee 600 billion dirhams ($163 billion) in investment in renewable energy. This would make it the first country in the Middle East and North Africa region (MENA) to take concrete and measurable steps towards achieving such an ambitious climate commitment.
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