"Emirates Aluminium" Sign agreements with"energy" and"Emirates Water and Electricity" and"Dubal"

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ABU DHABI, 27 November / WAM / Emirates Global Aluminium, Abu Dhabi National Energy Company (TAQA), Dubal Holding Company, and Emirates Water and Electricity Company announced the signing of a number of agreements that will contribute to removing carbon from the aluminum production operations of Emirates Global Aluminium, and expanding the development of renewable and clean energy projects in Abu Dhabi.

These agreements form the basis of an initiative that will support the growth strategies of both TAQA and Dubal Holding, and make Emirates Global Aluminum a leading company in the global aluminum industry to achieve climate neutrality by 2050, and support Emirates Water and Electricity’s plans to achieve a strategic increase in the capacity of generating electricity from solar energy in Abu Dhabi, and improve efficiency in electricity generation operations in the emirate, enabling a greater reduction in greenhouse gas emissions. Global warming.

The agreements were signed in the presence of His Excellency Dr. Abdullah Humaid Al Jarwan, Chairman of the Department of Energy – Abu Dhabi, Humaid Abdullah Al Shammari, Chairman of the Board of Directors of Emirates Global Aluminium, and Jassim Hussein Thabet, Group CEO and Managing Director of TAQA.

The agreements were signed by Farid Al-Awlaki, CEO of the electricity generation and water desalination business sector at TAQA, and

Abdul Nasser bin Kalban, CEO of Emirates Global Aluminium, Ahmed Hamad bin Fahd, CEO of Dubal Holding, and Ahmed Ali Al Shamsi, CEO of Emirates Water and Electricity Company.

TAQA and Dubal Holding will acquire the electricity generation and water desalination assets of Emirates Global Aluminum in the Al Taweelah area in the Emirate of Abu Dhabi for 7 billion dirhams.

These assets include the Al Taweelah Power Plant, which is the third largest power plant in Abu Dhabi with a capacity of 3.1 gigawatts, 6.25 million gallons per day of desalinated water, and uses highly efficient combined cycle gas turbines and reverse osmosis technology to desalinate water.

Under this deal, the power generation plants will be owned by a joint venture company whose ownership shares are distributed equally between TAQA and Dubal Holding, and operations will be managed by a new operation and maintenance company jointly owned by TAQA and Emirates Global Aluminium.

The joint venture company, established by TAQA and Dubal Holding, has signed an electricity purchase agreement with Emirates Water and Electricity Company, under which it will purchase the electricity generated by the Al Taweelah station until 2049. The station will supply flexible electrical energy, supporting the ongoing process of integrating electrical energy generated from renewable and clean energy sources into the Abu Dhabi electricity network.

TAQA Transmission Networks Company, a subsidiary of TAQA Group, will acquire the electricity transmission assets of Emirates Global Aluminium, and is currently implementing a project aimed at increasing the total capacity of the electricity transmission network from the main grid to EGA sites from 640 to 3,360 megavolt-amperes (MVA), to allow for the supply of improved clean energy from the network. The project is expected to be completed by 2027.

In addition, Emirates Global Aluminum signed the largest electricity supply agreement in Abu Dhabi ever, with both the Emirates Water and Electricity Company and the Taqa Distribution Company, a subsidiary of the Taqa Group, thus becoming the largest customer benefiting from the electricity network services in Abu Dhabi.

These agreements provide a supply of electrical energy with a capacity of 23 terawatt-hours annually to Emirates Global Aluminum for a period of 24 years, with an increasing percentage of electricity generated from renewable and clean energy sources, as a result of the entry into operation of Emirates Water and Electricity projects to generate electricity from solar energy sources.

Emirates Global Aluminum and Emirates Water and Electricity will share the financial returns that will result directly from this initiative. The initiative is expected to contribute to reducing greenhouse gas emissions by about 3.5 million tons annually by 2035, equivalent to more than 3% of Abu Dhabi’s total current emissions.

It should be noted that the acquisition deal remains subject to regulatory approval and other closing conditions typical of such agreements, and is expected to be completed during the coming year.

On this occasion, His Excellency Dr. Abdullah Humaid Al Jarwan, Chairman of the Department of Energy – Abu Dhabi, said that these agreements reflect the vision of the Emirate of Abu Dhabi aimed at reducing emissions and providing sustainable energy in order to enable the growth of the industrial sector, explaining that the Department has cooperated with the Emirates Water and Electricity Company, Taqa Company, Dubal Holding, and Emirates Global Aluminum Company to enable the success of this initiative, which embodies the strength of close cooperation between the various systems in Abu Dhabi and the flexibility Supportive legislation and policies to ensure the prosperity of societies and industries in the future.