RIYADH: The Abu Dhabi National Energy Company, also known as TAQA, and the Abu Dhabi National Oil Company, ADNOC announced a $3.6 billion strategic project to decarbonize ADNOC’s offshore production operations by more than 30 percent.
This project will develop and operate a first-of-its-kind high-voltage, direct current HVDC-VSC subsea transmission system in the Middle East and North Africa, a statement said.
It will power ADNOC’s offshore production operations with cleaner and more efficient energy, delivered through the Abu Dhabi onshore power grid, owned and operated by TAQA’s transmission and distribution companies.
The transmission system will have a total installed capacity of 3.2 GW.
Construction is expected to begin in 2022 with commercial operation commencing in 2025.
The project will be funded through a special purpose vehicle — a dedicated company that will be jointly owned by TAQA and ADNOC — each having a 30 percent stake.