Adnoc Distribution, the UAE’s largest fuel and convenience retailer, and Abu Dhabi National Energy Company, better known as Taqa, are teaming up to create a joint venture that will build and operate electric vehicle (EV) infrastructure in Abu Dhabi.
The new company, E2GO, aims to become the principal provider of EV charging points and associated infrastructure across the UAE capital, Adnoc Distribution said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares are traded.
The partnership will include a network of fast chargers at key locations, with associated solutions such as parking and tolling services, in addition to related digital platforms to boost EV charging.
It will also unlock new revenue streams for the two companies as the UAE focuses on becoming net zero by 2050.
From left: Omar Al Hashmi, executive director of transmission and distribution at Taqa, Bader Al Lamki, Adnoc Distribution chief executive, Mohamed Al Suwaidi, chairman of Taqa, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, Jasim Thabet, group chief executive of Taqa and Khaled Salmeen, executive director of downstream industry and member of Adnoc Distribution at the launch of E2GO. Photo: Adnoc Distribution
“As electric vehicle adoption grows in the UAE, Adnoc Distribution and Taqa are well placed to meet the evolving needs of EV customers through the creation of the E2GO venture,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, chairman of Adnoc Distribution and Cop28 President-designate.
“Adnoc Distribution will continue to capitalise on energy transition opportunities that make commercial sense, while remaining a reliable supplier of our customers’ energy needs.”
Demand for EVs in the UAE continues to rise and is projected to record a compound annual growth rate of 30 per cent between 2022 and 2028, according to the global electric mobility readiness index published in 2022.
An expected 70,000 charging points are required in Abu Dhabi by 2030 to meet growing EV demand with an investment of up to $200 million, the statement said.
“Decarbonising transport is an essential part of the UAE’s drive towards achieving its net zero ambitions,” said Mohamed Al Suwaidi, chairman of Taqa.
“The development of EV infrastructure facilitated by the E2GO joint venture will help bridge the gap in delivering clean energy to the wider public.”
It includes the principles governing ownership, installation and management of electric vehicle supply equipment, power supply to the charging installations and the pricing mechanism for end customers.
“The partnership between Adnoc Distribution and Taqa envisages both parties entering into detailed joint venture arrangements as well as the completion of necessary transaction requirements, including obtaining any relevant third-party and regulatory approvals,” the companies said.
Adnoc Distribution, which reported a 45 per cent surge in its third quarter profit, operates 481 retail fuel stations and 366 convenience stores in UAE as of September 30.
Taqa is one of the largest integrated utilities companies in the Europe, Middle East and Africa region with operations across 11 countries.
It has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations.
In the UAE, it supplies more than 90 per cent of Abu Dhabi’s power and water needs.
BUNDESLIGA FIXTURES
Saturday
Borussia Dortmund v Eintracht Frankfurt (5.30pm kick-off UAE)
Bayer Leverkusen v Schalke (5.30pm)
Wolfsburg v Cologne (5.30pm)
Mainz v Arminia Bielefeld (5.30pm)
Augsburg v Hoffenheim (5.30pm)
RB Leipzig v Bayern Munich (8.30pm)
Borussia Monchengladbach v Freiburg (10.30pm)
Sunday
VfB Stuttgart v Werder Bremen (5.30pm)
Union Berlin v Hertha Berlin (8pm)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Visibility: Often dramatic with thick "walls" of sand
Duration: Short-lived, typically localised
Travel distance: Limited
Source: Open desert areas with strong winds
Dust storm
Particle size: Much finer, lightweight particles
Visibility: Hazy skies but less intense
Duration: Can linger for days
Travel distance: Long-range, up to thousands of kilometres
Source: Can be carried from distant regions
Key facilities
Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
400m Olympic running track
NBA-spec basketball court with auditorium
600-seat auditorium
Spaces for historical and cultural exploration
An elevated football field that doubles as a helipad
Specialist robotics and science laboratories
AR and VR-enabled learning centres
Disruption Lab and Research Centre for developing entrepreneurial skills
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.
The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.
Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.
Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.
