24
September
2020

ADQ expands its utilities portfolio with addition of ENEC

Highlights

  • Abu Dhabi Executive Council issued decree to transfer ENEC to ADQ’s ownership

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, today announced the Emirates Nuclear Energy Corporation (ENEC) has been added to its utilities portfolio.

Under a decree issued by Abu Dhabi Executive Council, the full ownership of ENEC's shares were transferred to ADQ from the Government of Abu Dhabi with immediate effect.

We welcome ENEC to our portfolio of companies which comprises some of Abu Dhabi's most successful and ambitious enterprises. We are working closely with our utilities companies, including TAQA, EWEC, ADSSC and now ENEC, to advance our nation's solid infrastructure that is vital for supporting the growth and development of many sectors of the economy.

H.E. Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ

We are pleased to join ADQ, as part of our commitment to advancing Abu Dhabi's long-term economic diversification. We remain fully committed in our quest to delivering this new form of emissions-free electricity to strengthen and sustain the UAE's energy sector. With the recent commencement of operations of the Barakah Nuclear Energy Plant, we are supplying clean electricity to the UAE, and are committed to safely and efficiently generating electricity, supported by working with our UAE partners and stakeholders.

H.E. Mohamed Ibrahim Al Hammadi, Chief Executive Officer of ENEC

Nuclear energy has a crucial role to play in our nation's future, and we look forward to working closely with ENEC as it continues to build on its ambitious peaceful energy programme with the highest international safety and quality standards. ENEC's delivery of clean electricity from nuclear energy across the UAE further diversifies the power generation sources and reinforces our reliable power grid.

Khalifa Sultan Al Suwaidi, Chief Investment Officer at ADQ

ENEC joins ADQ's strategic utilities portfolio that also includes Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Sewerage Services Company (ADSSC) and Emirates Water and Electricity Company (EWEC).

About ADQ

Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.

For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on X, Instagram and LinkedIn.

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