Tadweer Group Acquires Masdar's Stake In Sharjah Waste-to-Energy Plant To Boost Sustainability Efforts

Abu Dhabi Future Energy Company PJSC – Masdar, a prominent renewable energy firm, has announced its decision to sell its stake in the Sharjah Waste-to-Energy plant to Tadweer Group. This transaction, pending standard closing conditions, aligns Tadweer with BEEAH, a leader in sustainability and innovation, as partners in the Emirates Waste-to-Energy company. This company owns and operates the Sharjah facility.

The strategic move allows both Masdar and Tadweer Group to concentrate on their core business strategies. Masdar will continue expanding its clean energy capacity. Meanwhile, Tadweer aims to enhance its UAE operations and international presence, aspiring to lead in sustainable waste management globally. Together with BEEAH, Tadweer will leverage their expertise for efficient operations at the Sharjah plant.

The Sharjah Waste-to-Energy project began operations in 2022 under the Emirates Waste-to-Energy company. It is the first commercial-scale waste-to-energy plant in the Middle East. The facility plays a crucial role in diverting waste from landfills by converting it into electricity, aligning with the UAE’s sustainability goals. Plans are underway to increase power output from 30 MW to 60 MW and double processing capacity for hard-to-recycle waste.

Mohamed Jameel Al Ramahi, CEO of Masdar, expressed pride in the project's impact within the UAE. He stated, "We are proud of the impact this project has had within the UAE, and we extend our sincere thanks to BEEAH for their valued partnership since the inception of our Emirates Waste-to-Energy joint venture. As we transfer our stake, we are confident that Tadweer and BEEAH will continue to advance the project with strong leadership and a clear strategic vision."

Ali Al Dhaheri, Managing Director and CEO of Tadweer Group, highlighted how acquiring this asset enhances their capabilities. He said it supports UAE's ambition to lead globally in sustainable waste management and energy conversion. "Acquiring this high-performing asset will further enhance Tadweer Group’s capabilities and support the UAE’s ambition to become a global leader in sustainable waste management and energy conversion," he noted.

Khaled Al Huraimel, Group CEO of BEEAH Group, acknowledged Masdar's partnership in this venture. He remarked on building upon these achievements with Tadweer as a new partner: "We thank Masdar for having partnered with us in the Emirates Waste-to-Energy joint venture and their support on the Sharjah Waste-to-Energy Plant... We look forward to further building on these accomplishments alongside Tadweer Group as a joint venture partner."

Commitment to Clean Energy Initiatives

This agreement highlights all parties' dedication to advancing sustainability efforts within the UAE. They plan continued collaboration on innovative projects within clean energy sectors while reinforcing national contributions towards global energy transformation initiatives.

The collaboration between these organisations underscores their commitment to supporting UAE's sustainability agenda through innovative initiatives in clean energy sectors. Their efforts aim at reinforcing national contributions towards driving global energy transformation while ensuring a more sustainable future for generations ahead.

With inputs from WAM