France’s ENGIE announced that it will invest an amount of US$12 billion in energy, water desalination and green hydrogen projects in the UAE, according to the Emirates News Agency (WAM).
THE UAE is a key market for ENGIE as it is one of its key markets in the Middle East and is a hub for business growth, Frédéric Claux, Managing Director Flexible Generation and Retail, Africa Middle East Asia said to WAM.
The company has successfully established its presence in the UAE over many years and is keen to achieve further growth in this strategic market, by primarily focusing on providing renewable energy solutions for water desalination, battery storage, and green hydrogen projects, Claux noted.
Claux explained that ENGIE ‘s investments in the UAE are distributed across several strategic and vital projects.
The projects 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.
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, according to reports.
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 said 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 is to finalize 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.
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 added.
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