ADNOC, TAQA form partnership to increase renewables
Abu Dhabi’s two energy giants, ADNOC and TAQA formed a partnership to increase renewable capacity to at least 30 Gigawatts (GW) of renewable energy by 2030, the companies said on Wednesday in a statement.
This collaboration will focus on domestic and international renewable energy and waste-to-energy projects as well as the production, processing and storage of green hydrogen and ancillary activities, they said.
The new partnership comes at a time where the UAE and other oil producing companies are trying to find solutions to cleaner energy.
The companies said that they will leverage ADNOC’s energy and hydrogen capabilities and TAQA’s renewables expertise to increase the renewables production capacity.
Moelis & Company is acting as the exclusive financial advisor to ADNOC, while Citi is acting as the exclusive financial advisor to TAQA.
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