Abu Dhabi opens one of the world's largest solar projects ahead of Cop28


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Abu Dhabi has inaugurated the two-gigawatt Al Dhafra solar power plant, one of the world's largest solar projects, as it moves ahead with plans to expand its renewable energy capacity and achieve its net-zero targets.

The project has been developed by Abu Dhabi National Energy Company, better known as Taqa, in partnership with clean energy company Masdar, France’s EDF Renewables and China's JinkoPower, the Abu Dhabi Media Office said on Thursday.

The Emirates Water and Electricity Company will procure the electricity supplied by the plant.

It will power 200,000 homes and is expected to reduce Abu Dhabi's carbon dioxide emissions by more than 2.4 million tonnes a year, equivalent to removing about 470,000 cars from the road.

It utilises about four million solar panels with bi-facial technology that captures sunlight on both sides for maximum yield.

The project, said to be the world's largest single-site solar power plant, will raise Abu Dhabi’s solar power production capacity to 3.2 gigawatts.

“As the UAE prepares to host Cop28, this pioneering project reflects the country’s ongoing commitment to raising its share of clean energy, reducing its carbon emissions and supporting the global efforts on climate action,” said Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi.

“We are witnessing, day after day, project after project, that the UAE is at the global forefront of developing and adopting innovative clean energy solutions,” he said.

The UAE is “proceeding with its strategic plans to enhance its energy security by implementing a diverse range of flexible energy generation that is contributing to the reduction of carbon emissions, while also advancing the economy”, Sheikh Hazza said.

A view of Al Dhafra solar park in Abu Dhabi. Victor Besa / The National
A view of Al Dhafra solar park in Abu Dhabi. Victor Besa / The National

Taqa owns 40 per cent of the project, Masdar owns 20 per cent while the remaining partners, EDF Renewables and Jinko Power, own a 20 per cent stake each in the project.

The project, located 35km from Abu Dhabi and spread across more than 20 square kilometres in the desert, generated 4,500 jobs at the peak of its construction. It was built in a single phase.

Al Dhafra project demonstrated “remarkable” progress in solar power efficiency, innovation and cost competitiveness, setting a new “record-low” tariff, Dr Sultan Al Jaber, Cop28 President-designate, Minister of Industry and Advanced Technology and chairman of Masdar said.

“With just days to go before the start of Cop28, I will be asking the world to unite and deliver the energy transition by tripling renewables capacity and doubling energy efficiency by 2030. Al Dhafra is an example of the scale of the ambition needed around the world.”

The project, which was first announced in 2020, initially had a highly competitive solar power tariff at Dh4.97 fils per kilowatt-hour (kWh), which improved to Dh4.85 fils/kWh upon financial close.

The UAE, the first country in the Mena region to announce a target of net zero by 2050, has been investing heavily in building renewable energy plants.

The host of the Cop28 climate conference beginning this month, the Emirates approved an updated version of the UAE Energy Strategy 2050 in July.

As part of the plan, the country plans to invest up to Dh200 billion ($54 billion) by 2030 to ensure energy demand is met while sustaining economic growth.

The UAE also aims to produce 1.4 million metric tonnes of hydrogen annually by 2031 and 15 million metric tonnes every year by 2050.

Meanwhile, the emirate of Abu Dhabi also announced its Climate Change Strategy for 2023-2027 in July. It aims to reduce emissions by 30 million tonnes by 2027, from 135 million tonnes in 2016.

“The project contributes to creating opportunities for sustainable economic and social growth, while simultaneously achieving a balance between sustainable development and mitigating the impacts of climate change,” said Awaidha Al Marar, chairman of the Department of Energy in Abu Dhabi.

“It will also promote the creation of a knowledge-based economy, harness clean technology, and create a diversified mix of energy sources.”

Last month, the UAE launched its first wind programme, with Masdar announcing a 103.5 megawatt landmark wind project across four locations in Abu Dhabi.

The project is expected to power more than 23,000 homes a year, displacing 120,000 tonnes of CO2.

Masdar, established in 2006, is working towards a renewable energy portfolio capacity of at least 100 gigawatts by 2030 and an annual green hydrogen production capacity of up to one million tonnes by the same year. It is currently active in more than 40 countries.

The Emirates is also building the five-gigawatt Mohammed bin Rashid Solar Park in Dubai, which will cut 6.5 million tonnes of carbon emissions annually when it is fully completed in 2030.

The UAE currently ranks second globally in terms of per capita solar energy consumption, according to data from The Energy Institute Statistical Review of World Energy.

Meanwhile, this week Taqa said it aimed to achieve 150 gigawatts of gross power generation by 2030, significantly higher than its previous target of 50 gigawatts.

The company, which is one of the largest listed integrated utilities in Europe, the Middle East and Africa, plans to have renewable power sources account for about 65 per cent of its power generation portfolio by the end of this decade.

Renewable energy is expected to make up about half of the global electricity mix by 2030 under current policies, but stronger measures would be required to meet the goals of the Paris Agreement, the International Energy Agency said in a report last month.

By the end of the decade, there will be 10 times as many electric cars on the road worldwide, with the share of renewable energy in power generation rising to 50 per cent from 20 per cent now, the Paris-based agency said in its World Energy Outlook.

ALSO READ: Green energy is a necessity – and a business opportunity

Heather, the Totality
Matthew Weiner,
Canongate 

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

 

 

 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
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  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The biog

Name: Samar Frost

Born: Abu Dhabi

Hobbies: Singing, music and socialising with friends

Favourite singer: Adele

TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

MATCH INFO

Norwich City 1 (Cantwell 75') Manchester United 2 (Aghalo 51' 118') After extra time.

Man of the match Harry Maguire (Manchester United)

FIXTURES

Nov 04-05: v Western Australia XI, Perth
Nov 08-11: v Cricket Australia XI, Adelaide
Nov 15-18 v Cricket Australia XI, Townsville (d/n)
Nov 23-27: 1ST TEST v AUSTRALIA, Brisbane
Dec 02-06: 2ND TEST v AUSTRALIA, Adelaide (d/n)
Dec 09-10: v Cricket Australia XI, Perth
Dec 14-18: 3RD TEST v AUSTRALIA, Perth
Dec 26-30 4TH TEST v AUSTRALIA, Melbourne
Jan 04-08: 5TH TEST v AUSTRALIA, Sydney

Note: d/n = day/night

Saturday's results

Women's third round

  • 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
  • Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
  •  9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
  • Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0

Men's third round

  • 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
  • Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
  • 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
  • 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
  • 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
  • Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
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First Person
Richard Flanagan
Chatto & Windus 

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THE BIO:

Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Notable Yas events in 2017/18

October 13-14 KartZone (complimentary trials)

December 14-16 The Gulf 12 Hours Endurance race

March 5 Yas Marina Circuit Karting Enduro event

March 8-9 UAE Rotax Max Challenge

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press 

Brief scores:

Kashima Antlers 0

River Plate 4

Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)

COMPANY%20PROFILE
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Persuasion
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How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

While you're here
THE BIO

Favourite author - Paulo Coelho 

Favourite holiday destination - Cuba 

New York Times or Jordan Times? NYT is a school and JT was my practice field

Role model - My Grandfather 

Dream interviewee - Che Guevara

Dubai World Cup Carnival card

6.30pm: Al Maktoum Challenge Round-2 Group 1 (PA) US$75,000 (Dirt) 1,900m

7.05pm: Al Rashidiya Group 2 (TB) $250,000 (Turf) 1,800m

7.40pm: Meydan Cup Listed Handicap (TB) $175,000 (T) 2,810m

8.15pm: Handicap (TB) $175,000 (D) 1,600m

8.50pm: Handicap (TB) $135,000 (T) 1,600m

9.25pm: Al Shindagha Sprint Group 3 (TB) $200,000 (D) 1,200m

10pm: Handicap (TB) $135,000 (T) 2,000m

The National selections:

6.30pm - Ziyadd; 7.05pm - Barney Roy; 7.40pm - Dee Ex Bee; 8.15pm - Dubai Legacy; 8.50pm - Good Fortune; 9.25pm - Drafted; 10pm - Simsir

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
MATCH INFO

Uefa Nations League

League A, Group 4
Spain v England, 10.45pm (UAE)

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
Updated: November 22, 2023, 6:09 AM