TAQA signs a deal with EWEC to build 1 GW of energy projects
TAQA and EWEC have signed an agreement to build energy projects that will produce a total of 1 gigawatt (GW) of power, according to a joint statement on Thursday.
Power Purchase Agreement
This agreement is a big step forward for the UAE’s National Strategy for Artificial Intelligence 2031 and the UAE Net Zero by 2050 plan.
TAQA has signed a 24-year contract (PPA) with EWEC to develop, own, and run a 1-gigawatt (GW) gas power plant in Al Dhafra, UAE. TAQA will fully own and manage the plant’s operations and maintenance.
TAQA Transmission, a part of TAQA Group, will also build a modern power grid to connect this new energy source to growing electricity needs. This will provide reliable power while reducing carbon emissions.
These projects will support a unique global initiative by EWEC and Masdar to provide renewable energy 24/7. The system will generate up to 1GW of continuous power from renewable sources, making it the world’s largest combined solar and battery storage system.
The partnership between EWEC, TAQA, and Masdar will bring about $9.8 billion (AED 36 billion) in energy infrastructure investment in Abu Dhabi. Around 75% will go towards renewable and conventional power generation, while 25% will be used to upgrade the power grid. This grid investment will be part of a regulated system to ensure stable returns.
Key Quote
“By creating an energy system that uses advanced renewable technology and smart power grids, this partnership sets a new global standard for sustainable energy,” said EWEC CEO Ahmed Ali Alshamsi.
Published: 4th April 2025
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