ADNOC invests in clean energy projects

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

Previously, ADNOC planned to reduce carbon intensity by 25% by 2030. Its goal is consistent with the commitment of the United Arab Emirates to achieve net zero emissions by 2050. Ahmed Jaber, Minister of State of the United Arab Emirates and CEO of ADNOC, said: "ADNOC will increase investment in clean energy, low-carbon and decarbonization projects."

In 2022, the company acquired the shares of Masdar, a renewable energy company based in Abu Dhabi, and plans to increase the installed capacity of renewable energy from more than 20 GWh to 100 GWh by 2030. ADNOC also plans to increase its CCS capacity from the current 800000 tons/year to 5 million tons/year by 2030 by capturing the emissions of Habshan natural gas processing facility. In addition, the company has developed a 1 million t/a blue ammonia production facility with other partners in the Ta'ziz industrial zone of Ruwais, Abu Dhabi.