- Taqa and ADNOC aim to develop a minimum of 30 GW renewable energy capacity by 2030 under a partnership
- It will focus on domestic and international renewable energy facilities, especially solar and waste-of-energy projects
- They would also invest in production, processing and storage of hydrogen and ancillary activities
Two giant government organizations from Abu Dhabi—Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (Taqa)—have announced a joint venture partnership aiming to develop ‘at least’ 30 GW renewable energy generation capacity by 2030.
The focus will be on domestic and international renewable energy facilities and waste-to-energy projects, along with production, processing and storage of hydrogen and ancillary activities, leveraging ADNOC’s hydrogen and Taqa’s renewables expertise especially low-cost solar power, the duo explained (see Scatec Partners With Fertiglobe & TSFE).
“Taqa is supporting Abu Dhabi’s aim to be a green hydrogen hub using our expertise in low-cost solar PV and desalinated water: two critical elements for green hydrogen,” said Taqa Chairman Mohamed Hassan Alsuwaidi.
The joint venture hopes to also benefit from the strategic position of the UAE to future demand centers for hydrogen and its carrier fuels.
According to a joint statement by the duo, they plan to enter into detailed joint venture agreements and secure necessary regulatory approvals.
As per ADNOC’s website, the company produces more than 300 kt hydrogen for industrial purposes currently, and plans to increase it to 500 kt annually.
The announcement from Taqa comes after it announced plans to invest AED 40 billion to increase its gross power capacity from 18 GW to 30 GW in the UAE, and add up to 15 GW internationally by 2030, with a major focus on solar PV technology in March 2021 (see UAE’s Taqa To Invest Majorly In Solar Power).
Aiming for a low carbon future, the UAE aims to achieve net-zero by 2050. According to Rystad Energy analysts, the country had installed 2.3 GW renewable energy capacity cumulatively by the end of 2020. By 2025, it is expected to expand it to 9 GW with 8.5 GW coming from solar PV (see UAE To Sport 8.5 GW Installed Solar PV Capacity By 2025).