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ABU DHABI, 11th May, 2023 (WAM) — ADNOC Distribution (ADX: ADNOCDIST), the largest fuel distributor and convenience store retailer in the UAE, today announced a major partnership with Emerge, a joint venture between Masdar and EDF, To develop – 2023 in Dubai to start installing solar energy in its network of service stations to generate clean energy.
Under the agreement, Emerge will provide ADNOC Distribution with a complete turnkey solution. This includes the finance, design, procurement, construction, operation and maintenance of solar panel installations for new service stations in Dubai, while retrofitting existing service stations.
Solar power is just one of many ways ADNOC Distribution is working to decarbonise as part of its goal to reduce carbon intensity by 25% by 2030, within the company’s broader sustainability plan.
In addition, the company is committed to exploring opportunities for further decarbonization using solar energy at its other industrial facilities located in the UAE.
project. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “Fundamentally, we believe that sustainability is fundamental to our vision for the future. To this end, an integral part of our strategy is our partnership with industry leaders in this important area. Important partnerships forged. We look forward to working with Masdar, Emerge and EDF to support our ambitious goals while enhancing our competitiveness and improving our overall business performance. With today’s announcement, ADNOC Distribution This is an important milestone in our ongoing effort to achieve the highest levels of energy efficiency while supporting our broader goals.”
By partnering with Emerge, the company reaffirms its commitment to taking concrete action to reduce carbon intensity while driving sustainable long-term shareholder value.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “This latest project underscores the leading role Emerge and Masdar are playing in helping to decarbonize the industry in the UAE and beyond. We look forward to working with ADNOC Distribution on their decarbonisation carbon targets as we continue to support the UAE’s broader clean energy strategy.”
Luc Koechlin, CEO, EDF Group Middle East, said: “At the upcoming COP28 event, we are actively supporting the decarbonization of business and industry (C&I) in the Middle East. With this latest ADNOC Distribution project, we are paving the way for a more sustainable future . Our shared goal is to raise industry awareness to effectively reduce our carbon footprint and we are delighted to be working with ADNOC Distribution to implement our carbon neutrality commitment in the region.”
ADNOC Distribution is also partnering with First Abu Dhabi Bank PJSC (FAB) to convert an existing US$1.5 billion (AED5.5 billion) term loan into a sustainability-linked loan, becoming the UAE’s first bank by January 2023. Home Fuel and Convenience Retailer Leveraging Sustainable Financing.
Subsequent initiatives, including adopting a sustainable energy mix for its fleet and introducing low-carbon-intensity products for customers, underscore the company’s commitment to driving sustainable growth through innovative solutions.
As well as deploying solar panels to power service stations, ADNOC Distribution has pledged to explore the use of biofuels to power its fleet and will expand its network of electric vehicle charging stations as part of its wider sustainability agenda.
In 2022, ADNOC Distribution launched the Voyager Green range of lubricants made from 100% plant-based base oils to complement and diversify its sustainable and environmentally friendly product range and meet the changing needs of customers.
In January 2023, ADNOC Distribution and TAQA revealed E2GO, a new joint venture to be formed to provide electric vehicle charging stations across the UAE. E2GO will play a key role in delivering EV charging infrastructure in Abu Dhabi, which will require an estimated 70,000 EV charging points and up to $200 million in capex to meet growing demand by 2030.
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