Abu Dhabi Executive Council transfers ENEC ownership to ADQ

Abu Dhabi Executive Council has issued a resolution transferring ownership of Emirates Nuclear Energy Corporation (ENEC) to Abu Dhabi-based holding company ADQ, which specialises in key sectors such as utilities, healthcare, food and agriculture, and logistics.

ENEC joins ADQ’s strategic utilities portfolio that also includes Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Sewerage Services Company (ADSSC) and Emirates Water and Electricity Company (EWEC). The transfer will not affect ENEC’s licenses, permits, exceptions, and approvals; its rights or obligations, or the government of Abu Dhabi’s commitments and obligations towards it, Abu Dhabi Media Office stated in a tweet.

#AbuDhabi Executive Council has issued a resolution transferring ownership of @ENEC_UAE to @Adq_Official, without affecting ENEC’s licenses, permits, exceptions, and approvals; its rights or obligations, or Government of Abu Dhabi’s commitments and obligations towards it. pic.twitter.com/kopy3wnUs0— مكتب أبوظبي الإعلامي (@admediaoffice) September 24, 2020

Chief executive officer of ADQ, HE Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ, said: “We welcome ENEC to our portfolio of companies which comprises some of Abu Dhabi’s most successful and ambitious enterprises. We are working closely with our utilities companies, including TAQA, EWEC, ADSSC and now ENEC, to advance our nation’s solid infrastructure that is vital for supporting the growth and development of many sectors of the economy.”

Commenting on the ownership transfer, chief executive officer of ENEC, HE Mohamed Ibrahim Al Hammadi, said: “We remain fully committed in our quest to delivering this new form of emissions-free electricity to strengthen and sustain the UAE’s energy sector. With the recent commencement of operations of the Barakah Nuclear Energy Plant, we are supplying clean electricity to the UAE, and are committed to safely and efficiently generating electricity, supported by working with our UAE partners and stakeholders.”