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ENGIE invests US$12 billion in energy, water, green hydrogen projects in UAE

  • ENGIE invests US$12 billion in energy, water, green hydrogen projects in UAE
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In November 1976, the United Arab Emirates agreed to set up the Emirates News Agency, to communicate news about the nascent state. On 18th June, 1977, WAM began to fullfil its professional mandate by transmitting UAE news to the rest of the world.

Frédéric Claux, Managing Director Flexible Generation and Retail, Africa Middle East Asia at ENGIE, announced that the value of the company's investments in energy, water desalination and green hydrogen projects in the UAE totals some US$12 billion (AED44 billion).

He also expressed the company's aspirations for further growth, especially as the UAE is one of its leading strategic markets in the Middle East.

In a statement to the Emirates News Agency (WAM), Claux explained that ENGIE 's investments in the UAE are distributed across several strategic and vital projects, which include the development of the Al Ajban Solar PV, water desalination projects, battery storage and green hydrogen production, as well as the development and operation of the Mirfa 2 Reverse Osmosis Independent Water Project, and the running of six power and water plants in the country.

He also highlighted the importance of the Emirati market for ENGIE, especially as it is one of its key markets in the Middle East and is a hub for business growth, noting that the company has successfully established its presence in the UAE over many years and is keen to achieve further growth in this strategic market, through primarily focusing on providing renewable energy solutions for water desalination, battery storage and green hydrogen projects.

ENGIE's strategy in the UAE currently focuses on district cooling projects, photovoltaic energy, water desalination plants and battery storage projects, and the company aims to continue growing and evolving in these areas, which have significant potential for growth and prosperity in the country, Claux explained.

He also affirmed that the company aims to achieve further growth through renewable energy ventures by participating in various solar energy projects under the Emirates Water and Electricity Company (EWEC). For example, it is involved in the development of Al Ajban Solar PV worth some US$1 billion, which produces 1.5 gigawatts (GW) of energy, he further added.

Claux stated that ENGIE is also working on water desalination, battery storage and green hydrogen projects and recently won a tender to develop and operate the Mirfa 2 Project, valued at US$800 million and with a daily water production capacity of 20 million gallons. The company also expects to finalise the project's financial closure in the coming weeks and commence its construction, with operations scheduled to start in 2026, he said.

ENGIE's involvement in district cooling projects helps reduce carbon emissions, and it owns a stake of around 40 percent in the National Central Cooling Company (Tabreed), Claux went on to explain.

Currently, ENGIE operates six power and water plants in the UAE with total capacities ranging from 1 to 1.5 GW, depending on location. With the addition of the Mirfa 2 project, the company's total investments in this sector in the UAE will reach around US$7 billion, he said in conclusion.

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