INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Barakah’s Unit 3 enhances UAE’s bid to cut emissions

A general view of the Unit 3 of the Barakah Plant.
  • The start of commercial operations for Unit 3 of the Barakah Nuclear Energy Plant marks another accomplishment in generating abundant clean electricity to the national grid
  • The plant will also prevent millions of tons of carbon emissions annually, said Mariam bint Mohammed Almheiri, the UAE’s Minister of Climate Change and Environment

ABU DHABI, UAE —The start of commercial operations for Unit 3 of the Barakah Nuclear Energy Plant marks another accomplishment in generating abundant clean electricity to the national grid and preventing millions of tons of carbon emissions annually, said Mariam bint Mohammed Almheiri, the UAE’s Minister of Climate Change and Environment.

Almheiri commented on the UAE’s efforts in tackling climate change and promoting sustainable economic development as the country celebrates a new milestone in support of its Net Zero 2050 targets.

She stated, “The world faces its most critical time in history with the impacts of climate change becoming increasingly more evident every year. Electricity generation is the biggest contributor to global carbon dioxide emissions, making the transition to clean energy sources essential in the battle with global warming.

Nuclear energy has a proven global track record of rapidly decarbonizing the economy, improving air quality and contributing positively to sustainability in crucial sectors like food, agriculture and water. Today, more than ever before, clean energy projects like the Barakah Plant are making a real and sustainable difference.”

With the UAE set to host COP28 later this year during the Year of Sustainability, we have the opportunity to showcase the crucial role nuclear energy plays both globally and here in the UAE, in generating emissions-free baseload electricity that underpins the use of renewable energy, providing the ‘always on’ capacity we need to grow the net zero economy.

It is imperative that we utilise all forms of clean energy to cut carbon emissions and mitigate the worst impacts of climate change. The UAE’s approach is showing tangible benefit, with over 5.5 million tons of carbon emissions removes for every unit brought into commercial operation at the Barakah plant.

Set to mitigate 22.4 million tons of emissions annually by 2025 and delivering 25% of the UAE’s Nationally Determined Contribution (NDC), we look forward to showing the world at COP28 how the UAE’s data-led approach over a decade ago is benefitting not just our environment, but our energy security. Now, as the Emirates Nuclear Energy Corporation (ENEC) moves into exploring clean molecules production, such as clean hydrogen and ammonia, as well as advanced nuclear technologies, such as Small Modular Reactors (SMRs), the UAE Programme continues to offer a global benchmark for rapid decarbonisation for other nations to follow.”