At a cost of 14 billion dirhams, the Abu Dhabi National Oil Company “ADNOC” and the Abu Dhabi National Energy Company “TAQA” announced today, Friday, the completion of the financing of their strategic project, which aims to supply the production operations of “ADNOC” offshore fields with environmentally friendly energy, which contributes to reducing carbon emissions. The Innovator, which is the first of its kind in the Middle East and North Africa region, aims to develop and operate a high-voltage direct current transmission system under the sea to supply ADNOC’s offshore production operations with more efficient and environmentally friendly energy.
Sharjah 24 – WAM:
The Abu Dhabi National Oil Company “ADNOC” and the Abu Dhabi National Energy Company “TAQA” announced today the completion of the financing of their strategic project, which aims to supply the production operations of “ADNOC” offshore fields with an environmentally friendly energy that contributes to reducing carbon emissions, at a cost of 14 billion dirhams / 3.8 billion dollars. American/.
The innovative project, which is the first of its kind in the Middle East and North Africa region, aims to develop and operate a high-voltage direct electric current transmission system under the sea to supply ADNOC’s offshore production operations with more efficient and environmentally friendly energy by connecting it to Abu Dhabi’s onshore electricity network. for the energy company.
The project, which is being jointly developed by ADNOC and TAQA and a consortium of the Korean Electric Power Company (KEPCO), Japan’s Kyushu Electric Power Company, and the French Electricity Company (EDF), has seen rapid progress from planning to To the development stage and the start of construction work in early 2022, which confirms the leading role of ADNOC and TAQA in driving climate action and supporting the UAE’s strategic initiative to achieve climate neutrality by 2050.
The consortium will construct, own, transfer and operate the advanced electricity transmission network in partnership with ADNOC and TAQA, with the entire project returning to ADNOC after 35 years of operation.