The joint initiative aims to reinforce the competitiveness of Abu Dhabi’s energy sector and support building partnerships with key manufacturing players in the private sector
The new partnership will further enhance best sustainability practices and encourage developing new solutions to support innovation in energy products
The MoU will also underpin Abu Dhabi Industrial Strategy long-term objectives by leveraging the full potential of innovative technologies and enhancing sustainability across the ecosystem in line with the UAE Net Zero by 2050 strategic initiative
EWEC (Emirates Water and Electricity Company) and the Abu Dhabi Department of Economic Development (ADDED), today signed a memorandum of Understanding (MoU) focused on boosting sustainability best practices and promoting the adoption of Clean Energy Certificates (CECs) across the Emirate’s Industrial sector. The joint initiative aims to reinforce the competitiveness of Abu Dhabi’s energy sector and its relationship with the various Industrial and private sector’s manufacturing players.
EWEC will collaborate with ADDED through the Industrial Development Bureau (IDB) to develop new solutions to support innovation in energy products. The parties will also spearhead the development of proposals to ensure continuous enhancements of the ecosystem to attract new investments and enable sustainable factories to thrive in Abu Dhabi, supporting Abu Dhabi’s long-term strategic plans, including Abu Dhabi Industrial Strategy, by leveraging the full potential of innovative technologies and enhancing sustainability across the ecosystem in line with the UAE Net Zero by 2050 strategic initiative.
Sustainable innovation is at the heart of Abu Dhabi’s development strategies, including the Abu Dhabi Industrial Strategy, which includes plans for a smart, circular economy, catalyses value creation and ensures cost competitiveness. The Abu Dhabi Department of Energy (DoE) issued a Regulatory Policy for Clean Energy Certificates in August 2021, in a bid to drive the transition to a sustainable decarbonised energy sector and marking a foundational step to establishing an Energy Attribute Certificates market and facilitating trading renewable and nuclear energy attributes in the Emirate.
Commenting on the collaboration, H.E. Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said: “We continue to actively pursue partnerships and alliances with both public and private sector market players to ensure that Abu Dhabi’s smart and circular economy is on track to achieve its objectives, and in turn, the UAE’s sustainability goals are being met”.
H.E. Al Blooshi explains further, “Our initiatives serve to reinforce and continuously upgrade our economy’s attributes, as we work towards building an even stronger future one, based on environmental, social, and corporate governance models and investments. We have achieved steady progress in this regard and demonstrated the extent of our diversification initiatives with our strategic ecosystem of partners.”
Mr. Othman Al Ali, Chief Executive Officer of EWEC, said: “The new strategic partnership with ADDED is a significant opportunity to enhance Abu Dhabi’s economic competitiveness with sustainability at its core. Abu Dhabi’s CEC scheme has already shown the significant impact it can have in helping companies decarbonise their energy consumption and take tangible action on climate change. With this new innovative partnership, we can further ensure that all entities in the industrial sector can participate in the scheme, helping consolidate Abu Dhabi’s position as an economic leader, benefiting our country and enabling the UAE to meet its net zero goals.”
EWEC is playing a key role for Abu Dhabi’s CECs scheme, acting as a Single Registrant and auction operator to establish a primary market for this new instrument. EWEC has signed strategic clean energy partnerships with entities across energy, real estate, healthcare, and events sectors including Abu Dhabi National Oil Company (ADNOC), Aldar Properties, the World Future Energy Summit, and the World Utilities Congress.
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About Emirates Water and Electricity Company
Emirates Water and Electricity Company (EWEC) drives the planning, forecasting, purchase and supply of water and electricity in Abu Dhabi and beyond. EWEC performs its role as the sole procurer of water and electricity from independent producers, ensuring the short- and long-term balancing of bulk supply and demand for distribution companies. EWEC is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. For more information, please visit www.ewec.ae
About Abu Dhabi Department of Economic Development
The Abu Dhabi Department of Economic Development (ADDED) regulates the business sector in the emirate and leads economic initiatives to achieve a knowledge-based, diversified, and sustainable economy. ADDED adopts best policies and practices based on the latest research and statistics, devotes its efforts to elevate the development and renaissance across various sectors, and prepares strategic programmes and plans by adopting the best economic and administrative practices, applying the latest technology and drawing on global expertise.
ADDED strives to improve the investment climate in the Emirate by enhancing prospects for cooperation with strategic partners and ensure principles of innovation, transparency, and knowledge-sharing are followed to strengthening the business ecosystem to enhance Abu Dhabi as preferred destination for business and investments.
For more information, please visit www.added.gov.ae