UAE state-owned sovereign wealth fund Mubadala Investment Company, the Abu Dhabi National Oil Company (ADNOC) and ADQ are to establish the Abu Dhabi Hydrogen Alliance in line with the emirate’s goal to develop a substantial green hydrogen economy.
The three companies will also come together on their approach to hit international markets with projects developed under the Alliance to place the emirate as a reliable and secure supplier of hydrogen to customers globally, as demand grows. The partnership further aims to establish Abu Dhabi as a trusted leader of low-carbon green and blue hydrogen in emerging international markets.
In a joint statement, the companies stated that the Alliance will map out the strategies to boost the UAE’s adoption and use of hydrogen in major sectors like utilities, mobility and industry, through their respective operating companies and with international partners.
The Abu Dhabi Hydrogen Alliance has a highly crucial role in developing the hydrogen energy economy in the UAE enabling it to meet the fastest growing global demand for hydrogen worldwide.
With the emirate’s large portfolio of energy and utility investments, ADQ would have an important part in the transition to cleaner energy while moulding the future of this economic cluster leading to Abu Dhabi’s longer-term sustainability.
Mubadala will contribute through Masdar, its global renewable energy champion, and its extensive network of international technology and investment partners and other relationships. ADQ will bring together its portfolio companies across the energy value chain, with companies such as Abu Dhabi Ports, Abu Dhabi Airports, Etihad Rail, Etihad Steel, Abu Dhabi National Energy Company (TAQA) and Emirates Nuclear Energy Corporation (ENEC) to enable activities undertaken by the Alliance.
While the Alliance will pursue green hydrogen domestically, ADNOC will continue to develop blue hydrogen independently within the UAE, leveraging its existing capacity and capabilities.
The development of a local hydrogen economy is a natural proposition for the UAE. Its strong track record and industrial capacity across the energy value chain, coupled with its geographic location advantages, and growing local and export demand, mean that the country is uniquely positioned to establish a clean hydrogen economy.