ADNOC Gas shareholders approve major dividend after record results in 2024
Energy
Masdar
Masdar invested $8.2bn in 2024 as it advances renewable energy portfolio
Masdar advancing its worldwide renewable energy portfolio
Dubai roads
RTA and ENOC team up to bring hydrogen-powered vehicles to Dubai
RTA and ENOC to power Dubai buses with hydrogen fuel
Abu Dhabi
Abu Dhabi’s ADQ to partner ECP in $25bn investment in the US energy infrastructure
The 50-50 partnership will focus on developing new power generation to serve the growing electricity needs of data and industrial centres
clean energy
Fabtech, Groupe M sign strategic deal to advance UAE’s nuclear, sustainable energy sectors
The companies will develop comprehensive engineering, manufacturing, and on-site products and solutions to support the nuclear and sustainable energies sector
Abu Dhabi Securities Exchange
Borouge plans a buyback for up to 2.5% of its outstanding shares
The Abu Dhabi petrochemical company also seeks shareholders’ approval for final 2024 dividends of AED0.794 fils per share
district cooling
Tabreed and Dubai Holding form JV to build $410mn district cooling network for Palm Jebel Ali
Anticipated total cooling capacity of appx 250,000 RTs; First phase of cooling services to be delivered by 2027; Tabreed to own 51% stake in the JV
Abu Dhabi
NMDC Energy secures $2.6bn Abu Dhabi EPC contract
The deal envisages NMDC Energy providing the EPC services for the project, beginning on March 31
SEWA
SEWA opens $136mn 220 kV substation in Sharjah airport area
SEWA collaborated with Siemens Energy and General Projects Company for Mechanical and Electrical Contracting to deliver the installation
Abu Dhabi Investment Office
Ignite Energy Access to establish Abu Dhabi headquarters as it looks to expand solar operations in UAE and Africa
African solar specialist Ignite Energy Access to establish base in Abu Dhabi
acquisition
GULFNAV shareholders approve Brooge Energy asset buyout in AED3.3bn deal
The acquisition includes Brooge Petroleum and Gas Investment Company FZE, Brooge Petroleum and Gas Investment Company Phase III FZE, and BPGIC Phase 3 Limited
Dubai
GEMS Education signs UAE’s largest school-based solar energy agreement
The deal covers the design, engineering, installation, and maintenance of solar energy systems across 23 GEMS schools in Dubai
energy transition
Siemens Energy awarded $1.6bn Saudi power plant contract
Siemens named EPC contractor for gas-fired power plants in Saudi Arabia
Emirates Central Cooling Systems Corporation
Empower to provide district cooling services to Dubai’s Palm Gateway project
Service is expected to begin in the second quarter of 2026, Will provide 9,470 refrigeration tons cooling to the project
JLL appointed by Pure DC as facility management operator at new Abu Dhabi data centre
Pure’s new campus, its first facility in the UAE, transitioned into live operations at the end of February
TAQA Water Solutions
TAQA Water Solutions to develop water infrastructure project in Uzbekistan
Estimated to be built for $540mn and serving over 2 million people, it will include a 65km transmission pipeline and a water treatment plant
Abu Dhabi
Mubadala completes stake sale in Calisen
The sale marks the end of a four-year investment cycle during which Mubadala, alongside partners worked closely with the UK firm to deliver strong financial and commercial performance