JV signed for Dh3.27 bil­lion wa­ter project


abu dhabi — Abu Dhabi state fund Mubadala and Saudi Ara­bian util­ity de­vel­oper Acwa Power are de­vel­op­ing a Dh3.27 bil­lion independen­t wa­ter de­sali­na­tion plant, one of the world’s largest, a se­nior of­fi­cial said on Wed­nes­day.

A com­pany Independen­t Wa­ter Pro­duc­ers has been set up with Mubadala In­vest­ment Co and Abu Dhabi Power Corp hold­ing a 60 per cent stake and Acwa Power hold­ing 40 per cent, a state­ment said. —

abu dhabi — Abu Dhabi Fu­ture En­ergy Com­pany (Mas­dar), a sub­sidiary of Mubadala In­vest­ment Com­pany, and French low-car­bon elec­tric­ity leader, EDF, have signed an agree­ment to es­tab­lish a 50:50 joint ven­ture en­ergy ser­vices com­pany (Esco).

At a spe­cial cer­e­mony at the World En­ergy Congress in Abu Dhabi, at­tended by Khaled Ab­dulla Al Qubaisi, chief ex­ec­u­tive officer, Aerospace, Re­new­ables and ICT at Mubadala, and Mar­i­anne Laigneau, group se­nior ex­ec­u­tive vice pres­i­dent of EDF in charge of the In­ter­na­tional Di­vi­sion, the agree­ment was signed by Mo­hamed Jameel Al Ramahi, chief ex­ec­u­tive officer of Mas­dar, and Valerie Levkov, EDF se­nior vice-pres­i­dent, Africa, Mid­dle East and Mediter­ranean.

The aim of the joint ven­ture Esco is to ex­pand into non-util­ity scale re­new­ables and en­er­gy­ef­fi­ciency in­vest­ments, such as build­ing en­ergy ef­fi­ciency, so­lar tech­nol­ogy be­low 50 megawatts and in­dus­trial waste heat re­cov­ery, among oth­ers, in the UAE, GCC re­gion and other emerg­ing coun­tries.

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