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Abu Dhabi’s ADQ expands utilities portfolio with addition of ENEC

Abu Dhabi’s ADQ expands utilities portfolio with addition of ENEC

The Abu Dhabi Executive Council issued a decree to transfer ENEC to ADQ’s ownership

Abu Dhabi-based holding company ADQ has taken full ownership of the Emirates Nuclear Energy Corporation’s (ENEC) shares.

According to a decree issued by Abu Dhabi Executive Council, full ownership of UAE’s nuclear energy body were transferred to ADQ with immediate effect.

Mohamed Hassan Alsuwaidi, chief executive officer of ADQ, said: “We welcome ENEC to our portfolio of companies which comprises some of Abu Dhabi’s most successful and ambitious enterprises. We are working closely with our utilities companies, including TAQA, EWEC, ADSSC and now ENEC, to advance our nation’s solid infrastructure that is vital for supporting the growth and development of many sectors of the economy.”

“We are pleased to join ADQ, as part of our commitment to advancing Abu Dhabi’s long-term economic diversification. We remain fully committed in our quest to delivering this new form of emissions-free electricity to strengthen and sustain the UAE’s energy sector. With the recent commencement of operations of the Barakah Nuclear Energy Plant, we are supplying clean electricity to the UAE, and are committed to safely and efficiently generating electricity, supported by working with our UAE partners and stakeholders,” commented Mohamed Ibrahim Al Hammadi, chief executive officer of ENEC.

ENEC joins ADQ’s strategic utilities portfolio that also includes Abu Dhabi National Energy Company (TAQA), Abu Dhabi Sewerage Services Company (ADSSC) and Emirates Water and Electricity Company (EWEC).

The reactor of Unit 1 of the Barakah Nuclear Energy Plant achieved 50 per cent of its electricity production capacity, ENEC’s operating and maintenance subsidiary Nawah Energy Company confirmed.

Read: Unit 1 of Barakah nuclear energy plant achieves 50% production capacity

This follows the synchronisation of Unit 1 to the national power grid and the dispatch of the first megawatts of clean electricity last month.

Read: UAE’s Barakah nuclear power plant connects to the national grid

ADQ holds a portfolio of enterprises spanning key sectors such as utilities, tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, food and agriculture, and financial services.

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