{"id":110567,"date":"2025-12-31T00:00:00","date_gmt":"2025-12-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2025\/12\/31\/taqa-locks-in-al-dhafra-gas-plant\/"},"modified":"2025-12-31T00:00:00","modified_gmt":"2025-12-31T00:00:00","slug":"taqa-locks-in-al-dhafra-gas-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/12\/31\/taqa-locks-in-al-dhafra-gas-plant\/","title":{"rendered":"Taqa locks in Al Dhafra gas plant"},"content":{"rendered":"

The Abu Dhabi National Energy Company (Taqa) and Emirates Water and <\/strong>Electricity Company (Ewec) reached financial close on the Al Dhafra gas power plant<\/strong>, according to a disclosure (pdf)<\/a>. Taqa will fully own and operate the AED 3.6 bn, 1 GW plant under a 24-year power purchase agreement<\/a> signed with Ewec earlier this year, with construction already underway. <\/p>\n

About 85% of the project is debt-funded through a consortium of local and international <\/strong>banks<\/strong> including Standard Chartered, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Agricultural Bank of China, Ajman Bank, Boubyan Bank, Doha Bank, First Abu Dhabi Bank, HSBC, ICBC, KfW, National Bank of Kuwait, Rakbank, and Woori Bank.<\/p>\n

The bigger picture: <\/strong>The project is part of Taqa, Ewec, and Masdar\u2019s AED 36 bn push<\/a> in Abu Dhabi\u2019s energy infrastructure. This includes deploying Masdar\u2019s 5.2 GW solar and 19 GWh battery storage project<\/a>, with the majority of output earmarked for AI data centers, supporting the UAE 2031 National Strategy for AI.<\/p>\n

The regional edge: <\/strong>The region\u2019s rising cluster of energy projects \u2014 like Al Dhafra project \u2014 offer an advantage<\/a> in the AI race, as lower-than-average energy tariffs (USD 0.05-0.06 \/ kWh vs USD 0.09-0.15 \/ kWh in the US) are an edge in an industry where computation and cooling energy are essential.<\/p>\n","protected":false},"excerpt":{"rendered":"

Roughly 85% of the cost is funded by syndicated debt<\/p>\n","protected":false},"author":1,"featured_media":110568,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1604],"tags":[480,143,7,266,152],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-110567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-emirates-water-and-electricity-company","tag-energy","tag-enterpriseam-uae","tag-oil-and-gas","tag-taqa","wpautop","entry"],"acf":{"mongo_id":"1db02560-91d4-4c45-b531-2c1883d18d09","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1826.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Taqa reaches financial close on AED 3.6 bn Al Dhafra gas power plant","related_issue":[110563],"teaser":"Roughly 85% of the cost is funded by syndicated debt"},"yoast_head":"\nTaqa locks in Al Dhafra gas plant - 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