Al Masaood Energy partners with TotalEnergies to develop a megawatt-scale solar energy project in Abu Dhabi
Abu Dhabi, December 4th, 2024 – Al Masaood Energy, one of the first established oil and gas contractors in the UAE, has signed a partnership agreement with TotalEnergies to implement a 2.5 megawatt (MW) solar project in its Mega-Base development in the Industrial City of Abu Dhabi (ICAD II)". TotalEnergies will deliver a tailored solution to optimize energy use and reduce emissions.
This 25-year partnership will enable TotalEnergies to develop the solar energy project with approximately 4,200 photovoltaic (PV) panels capable of an annual production of 4.2 gigawatt-hours (GWh) of electricity, while saving around 1,800 tons of CO2 emissions per year. The project will cover approximately 30 percent of Al Masaood Energy’s forecasted electricity consumption. This initiative reflects Al Masaood Energy’s commitment to decarbonizing and advancing the UAE’s industrial market towards net-zero emissions, in alignment with the country’s strategic environmental objectives.
“We are proud to support Al Masaood Energy in its transition to renewable energy through this solar project. Partnerships like this are essential for achieving sustainable growth and contributing to the UAE’s net zero goals,” said Hamady SY, Managing Director of TotalEnergies Renewables Distributed Generation Middle East & Africa (DG MEA).
“In line with our vision to contribute to the country’s decarbonization efforts, we are delighted to partner with TotalEnergies, a leader in the renewable energy sector in the UAE to meet our mid and long-term industrial power needs with a sustainable footprint”, said Dr. Ahmad El Tannir, General Manager, Al Masaood Energy.
COP28, held in Dubai under the UAE’s Presidency in November 2023, set a goal of achieving 50 percent decarbonization by 2030. This partnership between Al Masaood Energy and TotalEnergies demonstrates how the alignment of strategic initiatives by the UAE government and the private sector can accelerate progress towards this goal.
***
About Al Masaood Energy’s Mega-Base Project
The future industrial park of Al Masaood Energy is set to usher in a new era to be one of the local trading and services landmarks in Abu Dhabi, UAE. The Mega-Base property is set to cover an estimated land area of 300,000 sqm, creating a huge complex of combined business, industrial and manufacturing facilities. In its entirety, the project will house 13 major buildings with specific business and operational functions. This includes a 20,500 sqm jetty for advanced cargo operations supporting offshore activities with shipping and logistics solutions, a 20,000 sqm state-of-the-art logistics space with 12,000 sqm of workshops, a 3,000 sqm advanced chemical warehouse for the secure storage of hazardous materials, a 12,000 sqm central warehouse for efficient trading operations, a 8,500 sqm versatile integrated service workshops, and a 150,000 sqm manufacturing facility. As of November 2024, the construction project nearly reaches its end with finishing works currently in progress.
About Al Masaood Energy
Founded in 1971, Al Masaood Energy (formerly known as Al Masaood Oil & Gas) is one of the first established oil and gas contractors in the UAE. With over 50 years of expertise in upstream and downstream operations and a workforce of over 2,000 headcounts, Al Masaood Energy provides advanced energy services throughout the UAE, the Middle East, North Africa and the Eastern Mediterranean.
Headquartered in Abu Dhabi, the company has subsidiaries in Saudi Arabia, Oman, Algeria, Cyprus and Pakistan, in addition to a sales network in Egypt, Greece and Montenegro, through its foreign affiliate ventures. Beside its core line of petroleum services, Al Masaood Energy is commonly known as one of the key local agents and strategic partners of multinational contractors and manufacturers operating within the energy sector in the UAE.
Al Masaood Energy is an autonomous member of Al Masaood Group.
About TotalEnergies and electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By mid-2024, TotalEnergies’ gross renewable electricity generation installed capacity reached 24 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
TotalEnergies Contacts
Renewables Media Relations : +971 50 571 1270 | [email protected]
Corporate Media Relations: +33 (0)1 47 44 46 99 l [email protected] l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l [email protected]
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).