Abu Dhabi’s TAQA has ‘all the right ingredients’ to make green hydrogen feasible

Abu Dhabi’s TAQA has ‘all the right ingredients’ to make green hydrogen feasible
The company recently announced a 42 percent year-on-year increase in net income in the first half of 2021. (Supplied)
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Updated 11 August 2021

Abu Dhabi’s TAQA has ‘all the right ingredients’ to make green hydrogen feasible

Abu Dhabi’s TAQA has ‘all the right ingredients’ to make green hydrogen feasible
  • Just recently, TAQA signed agreements with the Abu Dhabi Ports Authority and Emirates Steel

ARAB NEWS: The Abu Dhabi National Energy Company (TAQA) is in a good position to develop green hydrogen, leveraging its capabilities to produce cost-efficient power, its CEO Jasim Husain Thabet said.

“The key component of becoming competitive in the green hydrogen market is access or capabilities in producing cost efficient power – renewable power and water – which we have,” the TAQA chief said, referring to the company’s major projects that include building the largest single-site solar power plant in the world.

“We have all the right ingredients to make green hydrogen feasible.”

The company also announced the Taweela RO, which it claims be the world’s largest reverse osmosis water desalination plant with a capacity of 200 million imperial gallons per day.

These projects are key to making “commercially viable” green hydrogen, which has been increasingly popular in the global energy transition scene.

“We see green hydrogen as an important market, and it really fits with our strategy where we said we want to move to become a low carbon power and water champion,” Thabet said.

Just recently, TAQA signed agreements with the Abu Dhabi Ports Authority and Emirates Steel. The first agreement will see TAQA build a green hydrogen power plant to produce green ammonia, which will be used as fuel for shipping.

Last week, the company announced it will start exploring the feasibility of providing green hydrogen from solar power, helping Emirates Steel in manufacturing “green steel.”

These projects are in parallel with TAQA’s long-term sustainability strategy, where it plans to increase the share of renewable energy – particularly solar photovoltaic (PV) – to its energy mix, from a current 8 percent to 30 percent by 2030.

Its Al Dhafra solar power plant project, announced late last year, vastly contributes to this goal, CEO Jasim Husain Thabet told Arab News, where the plant is expected to have a capacity of 2 gigawatts, powering around 160,000 homes once completed.

TAQA hopes to deliver these projects while maintaining impressive levels of profitability. The company recently announced a 42 percent year-on-year increase in net income in the first half of 2021.

“Against the backdrop of favorable market conditions, we continue to adopt a prudent financial policy, which saw us fully repay our corporate credit facilities this quarter and increase available liquidity,” Thabet said.

TAQA is also “actively pursuing international projects,” particularly targeting the Gulf.

Thabet said the company is participating in several tenders in Saudi Arabia, where it currently owns a stake at the Jubail Power Plant.


Almarai cuts emissions, increases use of solar power by 119%

Almarai cuts emissions, increases use of solar power by 119%
Updated 8 sec ago

Almarai cuts emissions, increases use of solar power by 119%

Almarai cuts emissions, increases use of solar power by 119%

JEDDAH: Saudi Arabia leading multinational dairy company Almarai has taken several steps to reduce emissions and increased the use of solar energy by 119 percent, according to its annual Sustainability Report 2020.

The Tadawul-listed company has reduced car fuel consumption in its sales, distribution and logistics department by 4 percent as compared to 2019. According to the report, clean energy accounted for 2.5 percent of the total power consumption, which is 4.4 percent within the sustainability strategy’s limits.

“Climate change can pose risks to agricultural production,” said Abdullah Al-Otaibi, head of corporate communication and public relations at Almarai. He said in order to fight climate change the company is taking measures to ensure sustainable growth.

Al-Otaibi said their energy strategy is based on solar power generation, increasing operational efficiency and energy monitoring efficiency, and improving the energy culture in pastures.


Saudi group wins Subway master franchise deal in UAE

Saudi group wins Subway master franchise deal in UAE
Updated 21 September 2021

Saudi group wins Subway master franchise deal in UAE

Saudi group wins Subway master franchise deal in UAE
  • In Europe, Middle East, and Africa, Subway plans to double its number of restaurants across the region in the coming years

DUBAI: Saudi Arabia’s Kamal Osman Jamjoom Group on Tuesday signed a master franchise agreement with Subway in the UAE as the restaurant brand seeks to expand its footprint in the region.

The deal marked the start of a new chapter for Subway in the UAE as it seeks to expand its footprint and remain competitive in the market.

“Subway is making bold and impressive changes to continue to grow its presence in markets around the world,” said Hisham Al-Amoudi, Group CEO of Kamal Osman Jamjoom Group.

“As Subway continues to expand internationally, we are focused on attracting well-established, large-scale operators in regions where they can leverage market expertise to help our brand thrive,” said CEO John Chidsey.

Established in 1987, Kamal Osman Jamjoom Group is a major franchise industry player in the Middle East with 675 stores across seven countries, making it one of the largest franchise networks in the region. They are a valued partner to some of the world’s most iconic brands, such as The Body Shop, LEGO, and Early Learning Center.

The group’s “deep knowledge of the Middle East and experience strengthening and expanding other global franchisee brands makes them the ideal partner in the UAE,” Mike Kehoe, EMEA president at Subway.

In Europe, Middle East, and Africa, Subway plans to double its number of restaurants across the region in the coming years and will continue to seek strong partners to support the brand on its journey.

The agreement will enable significant growth in the UAE in the coming years  including accelerated deployment of restaurant remodels — featuring a new, modern “Fresh Forward” design — as well as improved, consistent guest experiences, both on- and off-premise.


Saudi team’s performance at robotics summit to pave way for more progress

Saudi team’s performance at robotics summit to pave way for more progress
Updated 21 September 2021

Saudi team’s performance at robotics summit to pave way for more progress

Saudi team’s performance at robotics summit to pave way for more progress

RIYADH/JEDDAH: As the Saudi team secured sixth place in a contest at the World Robot Summit held in Japan, the chief of the Research Products Development Co. (RPDC) expressed optimism over Kingdom’s plan to promote artificial intelligence and build a strong robotics base in the Kingdom.

Abdulmohsen Al-Majnouni told Arab News that it was a major accomplishment as the Kingdom “is building its capabilities” to bring about the Fourth Industrial Revolution.

The company is owned by Taqnia, a subsidiary of the Public Investment Fund. Officials of the Research Products Development Co. led the Saudi robotics team, which competed with 16 other countries at the summit and qualified for the final contest.

“Inspired by the Kingdom’s Vision 2030, our national robotics team of young men and women, under the leadership of Dr. Nahid Sidki, the chief technology officer of RPDC, reached the final competition. The journey to the summit included qualification round of 119 international teams where 16 teams managed to reach the finals in the industrial challenge,” he said.

According to Saudi Minister of Communications and Information Technology Abdullah Alsawaha, advanced technology from the Fourth Industrial Revolution is expected to generate around SR1 trillion for the Saudi economy in new revenue streams.

The Kingdom will enjoy economic boosts from robotics, artificial intelligence, and wireless production models as it pushes for smarter cities and infrastructure.

“This accomplishment is inspiring to both our young men and women and to our leadership. We do not need to wait until 2030 to start achieving our targets. They are closer than many (people) think. With the government's support, we can start building amazing capabilities in robotics and AI and transform the Kingdom into a highly competitive economy,” said RPDC COO Dr. Mashal Al-Harbi. 

The secret to achieving the target, he said, is to find “passionate, dedicated and smart talent, engaging them in challenging projects for hands-on experience and supporting them with the needed resources and guidance to unlock their full potential.”

The World Robot Summit is supported by Japan’s Ministry of Economy, Trade and Industry; and the Energy Industrial Technology Development Organization. It aims to expedite the development of robotics and AI technologies to support the Fourth Industrial Revolution. 

“They open it up to the world to inspire young men and women to solve a very challenging problem. We managed to develop an innovative architecture to address the challenge and our talented team worked hard for almost two years despite the COVID-19 lockdown and the many challenges we faced,” said Sidki.

“The accomplishment is a reminder to our young talent that only through the dedication and hard work we can accomplish what others consider impossible,” he said.

“My message to Saudi young men and women is to follow your dreams and unlock your full potential and don’t let fear drive your ambition. Moving forward, we expect Saudi Arabia’s young talent to be major competitors in international AI and Robotics competitions,” the company’s chief technology officer said.


Egypt’s sovereign fund eyes investment in fintech sector

Egypt’s sovereign fund eyes investment in fintech sector
Updated 21 September 2021

Egypt’s sovereign fund eyes investment in fintech sector

Egypt’s sovereign fund eyes investment in fintech sector

RIYADH: The Sovereign Fund of Egypt is exploring investment opportunities in the fintech sector with a focus on small and medium projects, Ayman Suliman said in a CNBC Arabiya interview.

Talking about investments in other sectors, the chief executive officer of the fund said the tourism sector represents 20-20 percent of the fund's total investments.

Suliman also mentioned the fund’s plans to transform the historic Bab Al-Azab area in Cairo’s Salah Al-Din Al-Ayoubi Citadel into the first integrated innovation zone in the Middle East and North Africa.  

He said several projects in the health sector are also being studied such as the expansion of pharmaceutical exports.

“The health sector is a mainstay in the fund’s investment portfolio,” the CEO added.

The fund aims to attract private investments in Egypt’s underutilized assets and create wealth for future generations and boost the country’s economic growth.


Abu Dhabi to use drones to deliver medical supplies

Abu Dhabi to use drones to deliver medical supplies
Updated 21 September 2021

Abu Dhabi to use drones to deliver medical supplies

Abu Dhabi to use drones to deliver medical supplies

DUBAI: Abu Dhabi is working on plans to add advances drones to its health sector’s supply chain, said an official statement.

Drones will be used to deliver medical supplies, medicine and blood units, vaccines and samples between laboratories, pharmacies, blood banks across healthcare facilities around the city in a safe manner.

The project will create a state-of-the-art delivery system and network using drones at 40 stations throughout the year 2022, the statement said. 

The project is a collaboration between Abu Dhabi’s Department of Health, the General Civil Aviation Authority, SkyGo and Matternet. It will leverage existing advanced infrastructure to transform healthcare logistics.

It aligns with the year of preparation for the “UAE Projects of the 50,” the UAE's Fourth Industrial Revolution Strategy, and broader strategies to position Abu Dhabi as a global hub for innovation. 

The statement issued by the Abu Dhabi Government Media Office said: The use of drones will yield environmental benefits with a reduction in CO2 emissions and reduced road traffic congestion.” 

SkyGo and Matternet have completed phase one of testing and are now working on phase two, which will be finalized by the end of this year and will address all aviation safety requirement and risk assessments.