Skip to content Skip to Search
Skip navigation

France’s Engie sees UAE investments grow to $12bn

By Pramod Kumar
Outdoors, Water, Waterfront AWCA
Engie’s UAE strategy focuses on projects including water desalination plants

French energy company Engie has invested $12 billion (AED44 billion) in energy, water desalination and green hydrogen projects in the UAE.

The investments are across several strategic projects, Frederic Claux, managing director flexible generation and retail, Africa Middle East Asia at Engie, told the UAE state-run WAM news agency.

The projects include Al Ajban solar PV, water desalination projects, battery storage and green hydrogen production, as well as the development and operation of the Mirfa 2 reverse osmosis independent water project and the running of six power and water plants in the country.

Claux stated that the UAE is one of its key markets in the Middle East and a hub for business growth, noting that the company will primarily focus on providing renewable energy solutions for water desalination, battery storage and green hydrogen projects.

Engie’s strategy in the UAE currently focuses on district cooling projects, photovoltaic energy, water desalination plants and battery storage projects.

The company will continue growing these sectors, as they have significant potential for growth, he added.

The French firm seeks to expand through renewable energy ventures by participating in various solar energy projects under the Emirates Water and Electricity Company.

Currently, it is involved in developing $1 billion Al Ajban solar PV, which produces 1.5 GW of energy.

Claux said that Engie has recently won a tender to develop and operate $800 million Mirfa 2 project, which has a daily water production capacity of 20 million gallons. 

The company expects to finalise the project’s financial closure in the coming weeks and commence its construction, with operations scheduled to start in 2026, Claux said.

The French energy company owns a stake of around 40 percent in the National Central Cooling Company (Tabreed).

Currently, Engie operates six power and water plants in the UAE with total capacities ranging from 1 to 1.5 GW, depending on location. 

With the addition of Mirfa 2 project, the company’s total investments in this sector in the UAE will reach $7 billion, Claux said.

Latest articles

Cenomi executives hope to attract shoppers who might otherwise spend abroad by offering a 'world class' experience Young muslim couple shopping and having fun

Saudi mall operator takes aim at Dubai’s retail crown

Saudi Arabia’s leading mall operator is looking to challenge Dubai for the title of the top retail location in the Gulf, with plans to add five more locations by 2027. Bruno Wehbe, chief operating officer of Cenomi Centers, said the Jawharat Riyadh would include new elements such as 3D holographic projections, food halls with live […]

Diriyah Gate encompasses the Al-Turaif Unesco World Heritage Site

Saudi giga-project Diriyah Gate targets 2027 completion

Diriyah Gate, one of the first Saudi giga-projects, said this week that it was on target for completion by late 2027. The opening of the project’s first hotel is now rescheduled for later this year.  “We’re looking forward to the conclusion of our project, probably toward the end of 2027,” said Andrew Tonnor, Diriyah Gate’s […]

UK Business and Trade Secretary Kemi Badenoch attended the sixth round of UK-GCC trade talks in Riyadh in February

UK election adds urgency to GCC trade talks

An imminent general election in the UK and a potential change of government has accelerated pressure on negotiators to resolve talks about a GCC trade deal. Talks between the six countries of the Gulf Cooperation Council – the UAE, Saudi Arabia, Bahrain, Qatar, Oman and Kuwait – and the UK are almost two years old.  […]

emirates-nbd

Emirates NBD Q1 profit rises 12% on global income growth

Emirates NBD, Dubai’s largest bank by assets, said net profit rose 12 percent in the first quarter of 2024, thanks to income growth from its international network. Net profit for the first three months ended March 31 reached AED6.7 billion ($1.8 billion), up from AED6 billion a year ago. Total assets jumped to AED902 billion […]