Dubai, UAE: DUBAL Holding have announced that they have signed a Memorandum of Understanding (MoU) with Electricite De France (EDF Group) to explore possible collaboration with respect to the development of thermal power plants, technical support services, district cooling and sustainable energy solutions in the broader GCC, as well as “green” and electricity business opportunities in Brazil and elsewhere.
The MoU was signed between Mr Abdulnasser Bin Kalban, on behalf of DUBAL Holding and Mr Laurent Clement, the Managing Director Middle-East of EDF, highlighting the sector’s commitment to enabling the UAE to meet its sustainability objectives.
Speaking at the MoU signing ceremony, Mr. Abdulnasser Bin Kalban said: "This is an exciting moment for Dubal Holding as it builds a successful long-term partnership with EDF. As an investment arm of the Dubai government in industrial, mining and power projects, our combined efforts will focus on further industrialization of the Dubai and the UAE in line with our government’s vision.”
Laurent Clement, Managing Director Middle East of EDF said: “Today’s announcement is the first milestone of our future successful partnership with Dubal Holding in the UAE. By leveraging our combined experience and expertise, we aim to contribute to the development of the UAE industry through smart and innovative low carbon solutions, contributing to Dubai and the UAEs development strategy”.
About Dubal Holding
DUBAL Holding LLC (DH), established in 2014, is a wholly owned subsidiary of Investment Corporation of Dubai (ICD), the Sovereign Wealth Fund under the Government of Dubai. DH, as an investment arm for the Government of Dubai in the Commodities & Mining, Power & Energy and Industrial Projects, currently owns 50% stake in Emirates Global Aluminium (EGA), a substantial stake in Sinoway (a Chinese CPC Producer), a minority stake in CAP Alumina Refinery Project in Brazil, and a 50% shareholding in JA Power and Water Company - an entity established along with Mubadala of Abu Dhabi to manage the 625 MW CCGT power plant and the associated reverse osmosis facility with a capacity of 9 MIGD at EGA - DUBAL. DH is also a member in Dubai Supreme Council of Energy and participate in the Council Projects.
A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 39.8 million customers, 29.7million of which are in France. It generated consolidated sales of €69 billion in 2018. EDF is listed on the Paris Stock Exchange.
© Press Release 2020