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Sun 21 Apr 2019 11:53 AM

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Abu Dhabi's utility investment, management firm appoints first CEO

Abu Dhabi Power Corporation appoints Jasim Thabet as chief executive officer & managing director

Abu Dhabi's utility investment, management firm appoints first CEO
Abu Dhabi Power Corporation appoints Jasim Thabet as chief executive officer & managing director.

Abu Dhabi’s newly-established utilities management company has appointed its first CEO.

Abu Dhabi Power Corporation (ADPower), an investment manager in the water and electricity sector for the emirate, has appointed Jasim Thabet as CEO and managing director.

Thabet joins the newly-formed ADPower from National Central Cooling Company (Tabreed), where he was CEO. During his time with the cooling firm, he guided Tabreed to 50% growth in consolidated capacity, 28% growth in revenues.

ADPower was established last year as an active investment manager in the water and electricity sector based in Abu Dhabi. The company manages a number of companies in utilities sector across the UAE, including Emirates Water and Electricity Company (EWEC) Abu Dhabi Transmission and Despatch Company (TRANSCO) Abu Dhabi Distribution Company (ADDC) Al Ain Distribution Company (AADC) Al Mirfa Power Company (AMPC).

Saif Mohammad Alhajeri, chairman of ADPower said, “Jasim brings substantial sector expertise, experience and a solid track-record of success. We look forward to having him on board to lead the transformation of the sector and drive the role of the company as an active investor in the utilities sector delivering value for Abu Dhabi.”

Prior to working at Tabreed, Thabet served as vice president in the Industry unit of Mubadala Investment Company.

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