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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

EWEC, Masdar sign purchase pact

This strategic agreement will see EWEC procuring power from the UAE's utility-scale wind programme for the first time. (WAM)
  • This strategic agreement will see EWEC procuring power from the UAE's utility-scale wind programme for the first time.
  • Located at Sila, Sir Bani Yas Island and Delma Island, the wind power farms have a generation capacity of up to 99 megawatts.

Abu Dhabi, UAE — EWEC (Emirates Water and Electricity Company) and Abu Dhabi Future Energy Company (Masdar) have signed a Power Purchase Agreement (PPA) for power generated from the UAE’s first utility-scale Wind Programme.

This strategic agreement will see EWEC procuring power from the UAE’s utility-scale wind programme for the first time.

Located at Sila, Sir Bani Yas Island and Delma Island, the wind power farms have a generation capacity of up to 99 megawatts (MW) of renewable, carbon-free electricity, enough to power 22,000 homes, displacing 115,000 tons of carbon dioxide.

The agreement will draw power from 22 wind turbines standing at 95 meters high with a 155-meter wingspan, able to generate power at lower wind speeds, and also includes 14MW of solar photovoltaic (PV) power.

The agreement was signed following the official UAE Wind Programme inauguration presided over by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council.