Abu Dhabi, UAE – Abu Dhabi National Energy Company S.A. announced.M.A., “Energy”, and “UAE Water and Electricity”, announced the completion of a deal worth 3.6 billion dirhams to finance the “Al Dhafra” power generation station project with a capacity of 1 gigawatt.
Which will provide electrical energy for data center projects, enhancing the implementation of the UAE National Strategy for Artificial Intelligence 2031.
The project receives financing primarily through bank loans, which account for approximately 85% of the total financing value.
The financing will be provided by local and international banks, including Standard Chartered Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China, and Doha Bank.
In addition to First Abu Dhabi Bank, HSBC Bank, China Industrial and Commercial Bank, German Development Bank, and National Bank of Kuwait.
It will be joined by Ras Al Khaimah Bank, Wori Bank, Abu Dhabi Islamic Bank, Bubiyan Bank, and Ajman Bank.
Construction work on the Al Dhafra station project has already begun, and Taqa is implementing it at an accelerated and unprecedented pace.
Taqa owns full ownership shares in both the project company and the operation and maintenance company.
It will implement this project on a “build, own and operate” basis.
The announcement of the financing deal for this vital infrastructure project comes after Taqa signed a 24-year electricity purchase agreement with Emirates Water and Electricity in April 2025 related to the Al Dhafra station.
In addition to the Al Dhafra power plant project, Taqa Transmission Networks, a subsidiary of Taqa Group, will develop an advanced infrastructure for the electricity transmission network.
This is with the aim of linking the additional capacity that this station will generate with new sources of energy demand.
This enables reliable electrical energy with a lower carbon footprint.
It is noteworthy that the Al Dhafra Power Plant will provide support for the Masdar project, the first of its kind in the world.
Which will provide a supply of electricity generated from renewable energy sources 24 hours a day, seven days a week.
This reaffirms the UAE’s global leadership in leveraging renewable energy sources and low-carbon infrastructure.
