Abu Dhabi [United Arab Emirates], May 11 (/WAM): ADNOC Distribution (ADX: ADNOCDIST), the UAE's largest fuel distributor and convenience store retailer, today announced a key partnership with Emerge, a joint venture between Masdar and EDF, to develop on-site solar power across its service station network, commencing in Dubai in 2023, to generate clean energy.
Under the agreement, Emerge will provide ADNOC Distribution with a full turnkey solution. This includes finance, design, procurement, construction, operations, and maintenance of the solar panel installation at new service stations in Dubai while retrofitting existing ones.
In line with the company's broader sustainability plan, solar energy is just one of many ways ADNOC Distribution has committed to decarbonisation as part of its aim to reduce its carbon intensity by 25 per cent by 2030.
Additionally, the company is committed to exploring further decarbonisation opportunities with solar power across its other industrial facilities in the Emirates.
Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said, "At our core, we believe that sustainability is fundamental to our future-focused vision. To that end, an integral element of our strategy is the important partnerships we forge with industry leaders in this vital space. We look forward to working with Masdar, Emerge and EDF to support our ambitious goals while also increasing our competitiveness and enhancing our overall business performance. With today's announcement, ADNOC Distribution accomplishes a critical milestone in its ongoing efforts to achieve the highest levels of energy efficiency while supporting our broader objectives."
By partnering with Emerge, the company reaffirms its commitment to delivering tangible actions that reduce its carbon intensity while driving sustainable long-term shareholder value.
Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said, "This latest project highlights the leading role that "Emerge and Masdar" are playing in helping industries to decarbonise across the UAE and beyond. We look forward to working with ADNOC Distribution to achieve their decarbonization objectives as we continue to support the UAE on its broader clean energy strategy."
Luc Koechlin, Chief Executive Officer Middle East, EDF Group, said, "At the forefront of the upcoming COP28 event, we are actively supporting the decarbonisation of the Middle East's commercial and industrial (C&I) business. Through this latest ADNOC Distribution project, we're paving the road for a more sustainable future. With a common goal to raise awareness among industries to effectively reduce carbon footprint, we are happy to be partners with ADNOC Distribution in deploying our carbon neutrality commitments in the region."
ADNOC Distribution also became the first UAE fuel and convenience retailer to tap into sustainable financing in January 2023 by converting an existing USD1.5bn (AED5.5bn) term loan into a sustainability-linked one in partnership with First Abu Dhabi Bank PJSC (FAB).
Subsequent initiatives, including the adoption of a sustainable energy mix for its fleet of vehicles and the rolling out of lower carbon intensity products for its customers, underline the company's commitment to driving sustainable growth through innovative new solutions.
In addition to deploying solar panels to power service stations, ADNOC Distribution has pledged to explore using biofuels to power its fleet of vehicles and will expand its network of EV charging stations as part of its broader sustainability agenda.
In 2022, ADNOC Distribution launched its Voyager Green Series range of lubricants, made from 100% plant-based base oil, to supplement and diversify its sustainable and environmentally friendly product offering and meet customers' evolving demands.
In January 2023, ADNOC Distribution and TAQA revealed E2GO, a new joint venture to be created that will provide EV charging points across UAE. E2GO will play a critical role in delivering EV charging infrastructure across Abu Dhabi, where an estimated 70,000 EV charging points and up to USD 200 million CAPEX is required to meet the growing demand by 2030. (/WAM)
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