Abu Dhabi National Energy Company, better known as Taqa, has signed a 24-year power purchase agreement with Emirates Water and Electricity Company, to build and operate a one-gigawatt open-cycle gas turbine project in Al Dhafra as part efforts to support the UAE's technology needs.
Taqa will both own and manage the plant, including its operation and maintenance. The company’s subsidiary, Taqa Transmission, will build the grid connections to distribute the generated power, the companies said on Thursday.
Open-cycle gas turbines are typically employed for short-term power boosts, not constant operation, to meet peak electricity needs.
The projects will support the UAE’s $6 billion “round the clock” renewable energy facility announced by Masdar in January, which will combine 5 gigawatts of solar capacity with 19 gigawatt hours of battery storage to produce 1 gigawatt of clean power.
The partnership between Ewec, Taqa and Masdar will drive investment of about Dh36 billion ($9.8 billion) in Abu Dhabi's energy infrastructure, with about 75 per cent allocated to renewable and conventional power generation and the remaining 25 per cent to funding grid infrastructure, the companies said.
“Providing reliable low-carbon power plays an important role in enabling the global energy transition,” said Jasim Thabet, group chief executive and managing director of Taqa.
Ewec currently supplies more than 55 per cent of Abu Dhabi's power through renewable and clean energy sources and plans to raise it to 60 per cent by 2035.
Last year, Ewec said there was urgent need for an additional 5.1 gigawatts of gas capacity in the emirate to support the integration of renewable energy projects and provide flexibility during peak demand, state news agency Wam reported.
This includes 2.6 gigawatts of flexible and cost-effective open-cycle gas turbine capacity, expected to be available by 2027, along with about 2.5 gigawatts of combined-cycle gas turbine capacity by 2028, the company said at the time.
“By creating a future-ready energy framework that integrates next-generation renewable energy technologies and advanced transmission solutions, this collaboration is setting a new global benchmark for sustainable energy systems,” said Ahmed Al Shamsi, chief executive of Ewec.
Under the updated objectives of the UAE Energy Strategy 2050, the country will invest between Dh150 billion and Dh200 billion by 2030 to ensure energy demand is met while sustaining economic growth in the Emirates.
Projects under the plan include the 1.8-gigawatt sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the second phase of Dubai’s waste-to-energy project, and two major photovoltaic projects – the 1.5-gigawatt Al Ajban plant and the 1.5-gigawatt Al Khazna – both in Abu Dhabi.
Masdar alone aims to reach 100 gigawatts of renewable energy capacity by 2030, up from about 20 gigawatts at present.
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UAE currency: the story behind the money in your pockets
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Killing of Qassem Suleimani
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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
Company%C2%A0profile
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Company%20profile
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UAE currency: the story behind the money in your pockets
