Abu Dhabi National Energy Company (TAQA) and the Japanese company JERA signed a partnership agreement. This is to develop a new project aimed at establishing an industrial station in the Kingdom of Saudi Arabia. This new project aims to generate electricity and steam in order to meet the needs of the Amiral Petrochemical Complex, which is planned to be established in Jubail Industrial City.

The agreement is to achieve the distribution of shares between the two companies. “Taqa” Company will occupy 51% of the project’s share, while “Jera” Company will retain the remaining percentage, and stipulates that the contract period will extend for 25 years, under the build, own and operate system, with the possibility of extending it for an additional five years by mutual agreement between the two parties.

It is noted that this project is in line with a strategic vision to stimulate industrial growth and enhance energy infrastructure capabilities in the Kingdom of Saudi Arabia, and this cooperation is expected to contribute to advancing economic development and enhancing energy efficiency capabilities in the region.