Abu Dhabi, United Arab Emirates: Mubadala Investment Company PJSC (Mubadala) and ENGIE, a worldwide energy leader, today signed a Memorandum of Understanding (MoU) to explore the development of a digital platform for charging electric vehicles in Abu Dhabi and the Middle East region.
Under the agreement, the two companies will work together to explore the development of a digital platform which will include a joint solution for the installation and operation of charging infrastructure in Abu Dhabi and the United Arab Emirates (UAE). Additionally, the parties will explore further areas of collaboration related to sustainable mobility.
With the transport sector known as a significant contributor of global carbon footprint, electric vehicles are being deemed as a key to support decarbonizing the mobility sector, with emissions from EVs up to 43% lower than traditionally fueled vehicles as reported by Carbon Brief. Developing an EV friendly digital platform can play an important role for the UAE to meet the goals of its Strategic Initiatives Net Zero by 2050.
The agreement was signed by Badr Al Olama, Executive Director at UAE Investments, in Mubadala Investment Company, and Ian Harfield, Managing Director of ENGIE Energy Solutions (GCC).
Commenting on this agreement, Badr Al Olama, Executive Director at UAE Investments, in Mubadala Investment Company said: “As a responsible investor, Mubadala is committed to driving sustainability in the UAE and the wider region by laying the foundation and advancing future focused sectors in the fields of technology and mobility. Our agreement with ENGIE will support developing a digital platform for charging electric vehicles, and creating accessible, safe and sustainable mobility solutions to support the UAE’s climate action agenda.”
Commenting on the strategic partnership, Ian Harfield, Managing Director of ENGIE Energy Solutions said, “By 2030, 60% of the global population will live in cities. Therefore, sustainable mobility will emerge as one of the greatest challenges facing urban planners. Adoption of clean fuels and electrification of public and private transport systems will be key levers for reducing carbon emissions and pollutants in cities. The UAE, in particular, is leading the change towards independent electric cars in the region and targets to enter about 42,000 electric cars on its streets by 2030. This partnership with Mubadala is a commitment of our contribution to the UAE’s evolution towards green mobility.”
“At ENGIE, we bring decades of global experience and expertise to the Middle East green energy marketplace. We ranked number one in France for (bio) gas fueling stations, second worldwide (excl. China) for EV charging retail and installation of charging devices, including ownership and operation of semi-public and public EV charging networks, and fourth in Europe for H2 fueling stations,” he added.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
About ENGIE Group
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers.
Turnover in 2021: 57.9 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris - Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).
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