Taqa appoints Khalid Al Qubaisi as new head of energy services

New executive will help Ades steer the expansion of energy efficiency in Abu Dhabi

Abu Dhabi National Energy Company, also known as Taqa, appointed Khalid Al Qubaisi as the chief executive of its subsidiary, Abu Dhabi Energy Services (Ades).

Ades is a Super Esco, which works with the government and private companies to build Abu Dhabi's energy efficiency sector.

Mr Al Qubaisi will help steer the expansion of energy efficiency in Abu Dhabi at the company. Ades is engaged in retrofitting government and commercial buildings to help lower their energy impact and generate cost and efficiency savings.

"His significant business experience, coupled with a solid track record in business development and stakeholder management across multiple industries, including the energy sector, will help him take Ades to the next level of growth and progress," said Taqa managing director and group chief executive Jasim Thabet.

Mr Al Qubaisi has more than 15 years of experience in investment and energy industries. He previously served in many leadership roles at Mubadala Investment Company and was most recently a vice president for information communication and technology.

Taqa is looking to increase the share of renewable energy in its portfolio to 30 per cent by 2030. The clean power is set to largely come from solar photovoltaic cells.

Earlier this month, the company signed an agreement to supply Emirates Steel with green hydrogen – a move that could bolster the UAE's efforts to lower the emissions of its energy-intensive industrial activities.

Last week, Taqa said its second quarter net profit increased 39 per cent to Dh1.42 billion ($386.9 million) amid higher commodity prices.

Also on Monday, Etisalat, the UAE’s biggest telecoms operator, appointed Masood Sharif Mahmood as chief executive of its operations in the Emirates, as part of the company's transformation strategy.

Mr Mahmood is former chief executive of Mubadala-owned Yahsat.

His appointment will take effect from August 29, Etisalat said in a statement on Monday to the Abu Dhabi Securities Exchange, where its shares are traded.

“This new role is part of Etisalat Group’s transformation strategy that targets increased focus on diversifying and capturing growth opportunities within the UAE market while accelerating business development in the digital space, expanding geographic presence and maximising operational efficiency in existing markets,” Etisalat said.

Mr Mahmood has 20 years of experience in the telecom and technology sectors.

He served on the Board of Emirates Integrated Telecommunications Company, also known as du, for seven years between 2013 and 2020, according to the statement.

Last month, Etisalat reported a slight increase in its second-quarter net profit on the back of higher revenue.

The total net profit attributable to owners of the company for the three-month period ended June 30 climbed to Dh2.39 billion ($650 million) from Dh2.38bn during the same period last year. Revenue jumped 5.7 per cent year-on-year to Dh13.21bn.

Etisalat is exploring the development of 6G, the next generation mobile network that will allow for much faster and more sophisticated technology use.

The telecoms operator is conducting research and developing international standards that will be the main building blocks to create a 6G network, the company said in June.

Updated: August 18th 2021, 2:11 PM
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