According to the company’s website press release on February 15, 2023, JERA Co., Inc. (“JERA”) has entered into a Memorandum of Understanding (“MOU”) with Abu Dhabi National Energy Company P.J.S.C. (“TAQA”), one of the largest listed integrated utilities in the Middle East, that will see both parties explore opportunities to work closely together to develop projects in the area of decarbonization.
In October 2021, JERA established JERA Middle East & Africa Management Co. Ltd. in Dubai, UAE, with a view of development of businesses in a wider range of fields, including large-scale renewable energy projects and green fuel production projects, in addition to the existing gas-fired power and desalination projects. The company has been in talks with partners in the Middle East region with a view to expanding its development of its decarbonization business.
TAQA and JERA have a long-standing working relationship, having previously collaborated on the Umm Al Nar Independent Power and Water Plant (IWPP) project in 2003. This MOU will open up opportunities for collaboration between TAQA and JERA through the joint development of zero-emission thermal power projects and other green projects, mainly in the Middle East region, and will contribute to the expansion of business opportunities for both companies.
Mr. Yukio Kani, Vice president, JERA, said, "We are very pleased with this partnership. I believe we have same purpose and culture, that is “very open minded”. We are always open to new and innovative ideas and challenges, and even if we fail, we can turn around and start again, then we can grow quickly together. "
Commenting on the announcement, Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, said: “In line with our commitment to expand our power and water capacity across the UAE and globally, this collaboration with JERA will combine the world-class capabilities of both companies. Together, we will look into the development and operation of utility assets to deliver low or zero-emission power solutions that can meet future energy requirements and support international efforts for decarbonization. We look forward to working closely with our new partner to discover and realize opportunities across the MENA region and further cement TAQA’s position as a low carbon power and water champion.”
TAQA operates a power and water fleet across seven countries, including in the UAE and aims to add 15GW of capacity internationally and grow to 30 GW domestically by 2030. The company is also planning to have highly efficient Reverse Osmosis (RO) technology make up two-thirds of its desalination portfolio by 2030. Developing world-class decarbonized power and water projects will be key to meeting these objectives and this MOU is a tangible step towards these ambitions. In addition to supporting sustainability and decarbonization efforts, TAQA’s newly formed collaboration with JERA is the latest endeavor undertaken by the company that aligns to its ESG commitments to reduce its greenhouse gas (GHG) emissions and meet its growth ambitions.
JERA are positioning the Middle East region, which is rich in renewable energy resources, as a promising production base for green hydrogen and ammonia. As a global company providing cutting-edge solutions to the world's energy problems, JERA aims to establish a “Clean Energy Supply Infrastructure base” that combines large-scale renewable energy development with zero-emission thermal power to contribute to the decarbonization and further growth of the Middle East region.
