Mubadala Investment signs MOU with ENGIE

ABU DHABI: Mubadala Investment Company and ENGIE, a worldwide energy leader, on Tuesday signed a Memorandum of Understanding (MOU) o explore the development of a digital plaform for charging electric vehicles in Abu Dhabi and the Middle East region.

Under the agreement, the two companies will work together to explore the development of a digital plaform which will include a joint solution for the installation and operation of charging infrastructure in UAE. Additionally, the parties will explore other areas of collaboration related to sustainable mobility.

With the transport sector known as a significant contributortoglobalcarbonfootprint,electricvehicles are deemed as a key to supporting decarbonising the mobility sector, with emissions from EVS up to 43 per cent lower than traditionally fueled vehicles, as reported by Carbon Brief. Developing an EV friendly digital plaform can play an important role for the UAE in meeting the goals of its Strategic Initiatives Net Zero by 2050. The agreement was signed by Badr Al Olama, Executive Director at UAE Investments in Mubadala, and Ian Harfield, Managing Director of ENGIE Energy Solutions (GCC).

Commenting on this agreement, Al Olama said, “As a responsible investor, Mubadala is commited to driving sustainability in the UAE and the wider region by laying the foundation and advancing future-focused sectors in technology and mobility. Our agreement with ENGIE will support developing a digital plaform for charging electric vehicles and creating accessible, safe and sustainable mobility solutionstosupporttheuae’sclimateactionagenda.”