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ADNOC invests in clean energy projects

 Last Update: 2023-02-01
 Source: Internet
 Author: User

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Abu Dhabi National Oil Company (ADNOC) announced that it plans to invest $15 billion in low-carbon and clean energy projects
by 2030.

Previously, ADNOC planned to reduce carbon intensity by 25%
by 2030.
Its target is in line with the UAE's commitment to achieve net zero emissions
by 2050.
Ahmed Jaber, UAE Minister of State and CEO of ADNOC, said: "ADNOC will increase its investment
in clean energy, low-carbon and decarbonisation projects.
”

In 2022, the company acquired a stake in Abu Dhabi-based renewable energy company Masdar and plans to increase its installed renewable energy capacity from more than 20 GWh to 100 GWh
by 2030.
ADNOC also plans to increase its CCS capacity from the current 800,000 mt/year to 5 million mt/year
by 2030 by capturing emissions from the Habshan gas processing facility.
In addition, the company has developed a 1 million mt/year blue ammonia production facility
with other partners in the Ta'ziz Industrial Zone in Ruwais, Abu Dhabi.

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