Artificial Intelligence Adnoc signs $340m AI contract with Abu Dhabi’s AIQ Adnoc, the Abu Dhabi National Oil Company, has awarded a $340 million contract to AIQ, a joint venture with Presight, a data analytics company based in Abu Ahabi, to introduce autonomous artificial intelligence, or agentic AI, across its upstream operations. The three-year agreement involves deploying EnergyAI, software that uses agentic AI to analyse large amounts […] March 11, 2025
Renewable Energy Masdar views Middle East as biggest growth market UAE’s renewable energy company Masdar considers the Middle East its biggest market, even though its target is to grow globally, a senior executive has said. “The Middle East is the biggest market for us, we are a company from here, and this market is growing significantly,” Abdulaziz Alobaidli, chief executive officer of Masdar, told AGBI […] January 15, 2025
Renewable Energy UAE plans $6bn solar energy storage plant The UAE will construct a renewable facility capable of providing energy at scale around the clock. The project – estimated to cost $6 billion – will be developed in partnership between the UAE state-owned renewables company Masdar and the Emirates Water and Electricity Company (Ewec). The new facility will include solar power with the potential […] January 14, 2025
Analysis Oil & Gas How Adnoc’s XRG will achieve its bold investment ambitions When XRG, the newly formed investment arm of the Abu Dhabi National Oil Company (Adnoc), launched last month it said that it wanted to double its $80 billion in assets under management by 2035. For comparison, Abu Dhabi’s ADQ, the world’s 10th largest sovereign wealth fund and the younger sibling of Adia and Mubadala, had […] December 19, 2024
Opinion Sustainability Cop29 seeks an off-ramp from the ‘road to ruin’ The new Cop president did not mince his words about the path ahead November 11, 2024
Energy Masdar buys Greece’s biggest investor in renewables The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […] June 21, 2024
Opinion Sustainability The Middle East needs a bank for climate adaptation Given Mena's high climate risk exposure, the GCC should seize the initiative November 22, 2023
Sustainability French minister hails positive steps in Cop28 negotiations France’s minister of energy transition, Agnès Pannier-Runacher, has hailed positive progress in climate negotiations, especially on the financial support for vulnerable countries hit by climate disasters. A final attempt to push through consensus became the most important point of the discussions ahead of the Cop28 climate conference in Dubai. Seventy ministers and 100 delegates met […] November 1, 2023
Sustainability Businesses urged to sign up to UAE’s Cop28 charter The Cop28 presidency has drawn up a Net-Zero Transition Charter to which private sector businesses can sign up to give greater credibility to their net zero strategies. The aim is to encourage the private sector to take “bolder action on climate change and commit to greater accountability in their net-zero emissions pledges,” according to a […] November 1, 2023
Renewable Energy Irena and industry leaders draw roadmap to fast-track renewables The energy transition away from fossil-based systems must be accelerated to keep global warming at bay, according to intergovernmental agency the International Renewable Energy Agency (Irena), headquartered in Abu Dhabi. Irena and the Cop28 presidency combined with a group of industry players – the Global Renewables Alliance (GRA) – in calling for a trebling of […] October 31, 2023
Health Al Jaber: climate change health risks need more investment Cop28 participating nations must increase financing to identify and mitigate climate change’s risks to human health, the summit’s president designate Sultan Al Jaber has said. “The connection between health and climate change is evident, yet it has not been a specific focus of the Cop process – until now,” Al Jaber told the UN General […] September 19, 2023
Sustainability Al Jaber responds to first UN global climate stocktake Cop28 president designate Sultan Al Jaber has urged nations to “urgently disrupt business-as-usual” to meet climate change goals, as the UN warned in its first global climate stocktake that progress made to date has been “inadequate”. The stocktake is a comprehensive review of countries’ progress on cutting emissions since the Paris Agreement was signed in […] September 8, 2023
Renewable Energy Next $1.5bn phase of Dubai’s solar park to be ready in 2024 Dubai Electricity and Water Authority and Masdar have signed an agreement to build and operate the 1,800-megawatt sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The next phase of the world’s largest single-site solar park will cost AED5.5 billion ($1.49 billion). “This phase will power over half a million residences while reducing […] September 7, 2023
Video length: 03:55 Renewable Energy Cop28 to invest billions in African clean energy A UAE finance initiative led by Cop28 will put $4 billion direct investment and has pledged billions more into clean energy projects in Africa, the climate change summit’s president-designate Sultan Al Jaber said this week. Al Jaber told the inaugural African Climate Summit in Nairobi on Monday that the initiative – involving high-profile UAE-based investors […] September 5, 2023
Video length: 03:55 VIDEO Sustainability Who is Sultan Al Jaber? The decision to name Sultan Ahmed Al Jaber to lead the Cop28 climate conference in Dubai has been criticised, as he is also CEO of fossil fuel producer Abu Dhabi National Oil Company (Adnoc). However, the UAE minister of industry and advanced technology also heads renewable energy business Masdar and has other sustainable credentials that […] August 29, 2023
Sustainability Cop28 reveals programme for Dubai event The Cop28 UAE presidency has unveiled the two-week programme of topics to be discussed at the UN climate change conference on 30 November to 12 December. Cop28 will take place as a series of high-level talks alongside public discussions and other events at the Expo 2020 site in Dubai. Last month the event’s president-designate Sultan […] August 23, 2023
Sustainability Cop28 and UN to draft climate finance framework United Nations economists, the Cop28 leadership and other institutions including the World Bank and International Monetary Fund, have agreed to draw up recommendations to reform climate finance. The planned changes come amid concerns that the billions pledged by developed nations to tackle global warming are falling short. The recommendations – to be shared and discussed […] August 21, 2023
Sustainability Al Suwaidi: time to deliver on $100bn climate pledge Developed countries must stump up their agreed $100 billion a year to tackle climate change as the world is a long way off from meeting the targets set in the Paris Agreement, Cop28’s director general said in Brazil this week. “We need to invest across the board in every kind of solution that is going […] August 9, 2023
Energy Masdar chief hails ‘defining moment’ in $3bn green fund The chairman of Abu Dhabi Future Energy Company, better known as Masdar, has described the completion of its debut green bond issuance as a “defining moment”. The $750 million 10-year senior unsecured notes are listed on the London Stock Exchange (LSE) and form the first part of a programme to raise up to $3 billion. […] August 7, 2023
Energy Adnoc shaves five years off net zero deadline Abu Dhabi National Oil Company (Adnoc) has brought forward its deadline to reach net-zero carbon emissions by five years to 2045, citing its “industry-leading” progress on targets to date as the reason for the change. Sheikh Khaled bin Mohmed, Crown Prince of Abu Dhabi, approved the state oil company’s plan to bring the net-zero deadline […] July 31, 2023
Sustainability Al Jaber calls on G20 to double climate risk finance Cop28 president Sultan Al Jaber and United Nations climate executive secretary Simon Stiell urged the G20 this week to increase funding known as “adaptation finance”, for communities at risk of facing climate change-related hazards. “The G20 must affirm its commitment to [mobilising] the fund and funding arrangements. Those at the frontline of climate change need […] July 28, 2023
Renewable Energy Masdar buys 49% stake in German wind farm project UAE renewable energy company Masdar is buying a 49 percent stake in Spanish utility Iberdrola’s 476MW offshore wind farm in the German Baltic Sea for €375 million ($414.5 million). The Baltic Eagle wind farm is valued at €1.6 billion, with Iberdrola controlling and managing the asset and providing operation and maintenance services. Baltic Eagle consists […] July 27, 2023
