Emirates Global Aluminium (EGA) has announced a series of agreements with local utility companies and investors to decarbonise its aluminium production and expand renewable and clean energy development in Abu Dhabi, it said today.
Abu Dhabi National Energy Company (Taqa) and investment firm Dubal Holding will acquire EGA's Al Taweelah power and water assets for $1.9bn, while also signing a power purchase agreement with Emirates Water and Electricity Company (Ewec) for the Al Taweelah gas-fired power plant until 2049. Taqa Transmission will also acquire EGA's electricity transmission assets.
EGA has signed Abu Dhabi's largest-ever electricity supply agreements with Ewec and Taqa Distribution for the supply of power over the next 24 years, with the share of renewable and clean energy increasing over that time as Ewec's solar electricity generation projects come on line.
EGA is planning to "vastly increase" the production of its CelestiAL brand of aluminium produced using solar aluminium and its MinimAL brand of aluminium produced using nuclear power to almost half of its total primary aluminium output by the end of 2028, depending on market demand.
"This initiative is one of the largest decarbonisation projects ever in the global aluminium industry," EGA chief executive Abdulnasser Bin Kalban said. "For our global customers, it significantly increases the availability of low-carbon ‘premium aluminium', strengthening the role of our metal as an essential material to make modern life possible."
