ADNOC and TAQA launch E2GO to provide EV charging stations in the UAE

ADNOC and TAQA launch E2GO to provide EV charging stations in the UAE

ADNOC Distribution partnered with Abu Dhabi National Energy Company (TAQA) to establish a mobility joint venture, E2GO, to build and operate electric vehicle (EV) infrastructure in Abu Dhabi and the wider UAE. This was signed on the sidelines of the Abu Dhabi Sustainability Week (ADSW 2023).

E2GO has an expected 70,000 charging points considered to be required in Abu Dhabi by 2030 to meet growing EV demand. To support this demand, an investment of up to USD 200 million of capital expenditure will be needed for infrastructure.

“As electric vehicle adoption grows in the UAE, ADNOC Distribution and TAQA are well placed to meet the evolving needs of EV customers through the creation of the E2GO venture. ADNOC Distribution will continue to capitalize on energy transition opportunities that make commercial sense while remaining a reliable supplier of our customer’s energy needs,” Sultan Ahmed Al Jaber, Chairman of ADNOC Distribution, said.

E2GO aims to become the principal provider of EV charging points and associated infrastructure across of Abu Dhabi. The partnership will include a network of fast chargers at key locations, featuring associated solutions such as parking and tolling services, in addition to related digital platforms to facilitate EV charging.

The project aligns with the UAE’s Net Zero by 2050 objectives by contributing to a reduction in emissions from transport.

The new venture is supported by a new regulatory unit Policy for Electric Vehicle Charging Infrastructure in Abu Dhabi that the Abu Dhabi Department of Energy recently launched, in a significant step forward to provide the right policy framework to support a circular carbon economy as the UAE advances its plans to achieve the net zero ambition.

Through the partnership, ADNOC Distribution and TAQA will enter into detailed joint venture arrangements as well as the completion of necessary transaction requirements, including obtaining any relevant third-party and regulatory approvals.

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