Friday, October 27, 2023

ENGIE aims for more UAE growth following $11.9bn green investments


ENGIE, the French utility company, has invested $11.9 billion in various projects in the UAE and is looking to expand its presence in the country by offering renewable energy solutions for water desalination, battery storage, and green hydrogen projects. Frederic Claux, ENGIE’s managing director of thermal and supply for the Asia, Middle East and Africa region, stated that the company’s strategy specifically targets district cooling projects, photovoltaic energy, water desalination plants, and battery storage projects. ENGIE is already involved in several projects in the UAE, including funding the development of Al Ajban Solar Photovoltaic plant and the Mirfa 2 Reverse Osmosis Independent Water Project worth $800 million. The company currently operates six power and water plants in the UAE and owns a 40% stake in the National Central Cooling Co., known as Tabreed. Once the Mirfa 2 project has been added, ENGIE’s total investments in this industry will amount to about $7 billion.

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