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TAQA and CWM Abu Dhabi Collaborate to Develop Waste to Energy Initiative

Abu Dhabi National Energy Company PJSC (" TAQA ") and The Centre of Waste Management Abu Dhabi ("CWM") today announced the signing of a Memorandum of Understanding for the joint development of 100mw Waste to Energy facility in Abu Dhabi by 2015/16.

Having developed the concept over the past twelve months, TAQA and CWM have agreed to work together to create one of the largest Waste to Energy plants in the world, and the first of its kind in The United Arab Emirates. The facility will be capable of processing up to a million tonnes of municipal solid waste per annum, contributing towards CWM's stated target of 80% diversion of waste from landfill, which falls within the Abu Dhabi Vision 2030 objectives. TAQA 's experience of building, owning and operating thermal power facilities means that Waste to Energy is a natural addition to its fleet.

HE Mohammed Al Bawardi, Chairman of The Centre of Waste Management Abu Dhabi said, "Keeping up with the Abu Dhabi Vision 2030 requires the concerted efforts of various departments and national institutions to develop in a sustainable and environmentally responsible way. In signing this Agreement, we at the Centre of Waste Management see cooperation with TAQA as the mainstay of a sustainable waste management strategy, focusing on our goal of 80% diversion of waste from landfill."

Commenting on this new initiative, HE Hamad Al Hurr Al Suwaidi, Chairman of the Board of Directors of TAQA , said, "A strategic partnership between our two entities to divert waste from landfill and create a long-term source of energy is a major step forward in Abu Dhabi's vision for a cleaner and more sustainable environment, and demonstrates our commitment to energy security through non-traditional means of power generation. We see this as the first of its kind in Abu Dhabi, with more to follow, utilising waste as a resource and working as a team to provide employment and technological advancement in the region."

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About TAQA
Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA ).

TAQA 's business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA 's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA 's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.

TAQA 's vision is to deliver 'Energy for Growth': growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi's economic vision 2030, working towards sustainable economic development.

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

© Press Release 2012

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