Abu Dhabi's energy landscape upgrade: $1 billion combined heat and power project landed

2025-04-01 08:43:00 · MENA Business

In recent years, the energy industry in the Middle East has been undergoing profound changes. Relying on its world-leading energy layout and industrial upgrading strategy, the UAE has continued to increase its investment in clean and efficient energy. Against this backdrop, Kuwaiti engineering giant Alghanim International has successfully won the EPC contract for the Volta project, a new combined heat and power utility plant in Abu Dhabi, with a total value of up to US$1 billion, jointly awarded by Abu Dhabi National Energy Company and Abu Dhabi National Oil Company. This cooperation not only marks another major breakthrough in the UAE's energy infrastructure, but also highlights Al Ghanim International's leading position in the global energy market.

$1 billion EPC contract to help Abu Dhabi's industrial upgrade

As an important part of Abu Dhabi's energy strategy, the construction of the Volta project will provide utility support for the TA'ZIZ derivatives complex and further promote the high-end development of the UAE's petrochemical industry. TA'ZIZ is a new chemical industry cluster promoted by the Abu Dhabi government, which aims to enhance the UAE's competitiveness in the global chemical market by improving the fine chemical production chain. The application of combined heat and power (CHP) technology can not only improve energy utilization efficiency, but also effectively reduce carbon emissions, making industrial production more sustainable.

For Alganim International, this cooperation is undoubtedly an important step in expanding its global business territory. The company has extensive experience in public utilities and energy projects in the Middle East. It has previously successfully participated in the construction of the Duqm Integrated Water and Power Plant in Oman and several large-scale energy projects in Kuwait, and has accumulated outstanding performance in energy engineering design, construction and project management. Winning the bid for this project not only consolidates its dominant position in the construction of energy infrastructure in the Middle East, but also lays the foundation for its future expansion of more high-end energy projects.

Abu Dhabi accelerates energy transformation and strengthens industrial competitiveness

In recent years, the UAE has been accelerating the transformation of its energy structure to achieve its sustainable growth goals. As one of the countries with the richest oil and natural gas reserves in the world, the UAE is not satisfied with the export of traditional energy. Instead, it is promoting the diversified development of the national economy by strengthening the construction of the local energy industry chain and increasing the added value of downstream products.

As core companies in the UAE's energy industry, TAQA Group and ADNOC Group have frequently increased their investment in new energy and efficient energy technologies in recent years, striving to make greater breakthroughs in carbon neutrality and energy conservation and emission reduction. The $1 billion Volta project is not only in line with Abu Dhabi’s long-term industrial upgrading goals, but also demonstrates the UAE’s forward-looking layout in the global energy market.

Leading regional energy transformation with technological innovation

Alghanim International has been committed to promoting the development of the energy industry in the Middle East, and its successful projects in many countries have verified its professional capabilities in the fields of utilities and energy engineering. The company said: “With our engineering excellence, proven track record and strong commitment to innovation, we are proud to contribute to Abu Dhabi’s industrial growth. We look forward to delivering another world-class project that will set a new benchmark in the energy industry.”

From a technical perspective, cogeneration projects place extremely high demands on engineering design and implementation capabilities. As one of the global leaders in energy engineering, Alganim International has accumulated a wealth of experience in improving energy efficiency, optimizing project construction management, and reducing environmental impact. In this project, the company will use the latest engineering technologies to ensure the efficient operation of the Volta project and provide a more stable and sustainable utility supply to the UAE.

Middle East energy market continues to expand, global investors focus on new opportunities

As Abu Dhabi and the entire Middle East region advance their energy transformation, clean and efficient energy projects are becoming a key area of focus for major companies and investors. Whether it is the TA'ZIZ chemical industry cluster promoted by the UAE government or Saudi Arabia's new energy investment under the "Vision 2030", the entire Middle East region is undergoing a profound transformation in the upgrading of its energy structure.

Under this trend, companies with strong technical capabilities and engineering experience, such as Alghanim International, will play a more important role in the upgrading of the global energy industry. At the same time, for financial industries such as banks, investment companies, import and export insurance, and government investment management agencies, the continuous expansion of the Middle East energy market also means that new investment opportunities are emerging. In the future, as more similar world-class energy projects are implemented, the global capital market's attention to the Middle East will continue to heat up.

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Abu Dhabi's energy landscape upgrade: $1 billion combined heat and power project landed