UAE-based fuel and convenience store retailer ADNOC Distribution has partnered with Abu Dhabi National Energy Company (TAQA) to establish a mobility joint venture, E2GO.
The JV will build and operate an electric vehicle (EV) infrastructure in Abu Dhabi and the wider UAE. The partnership will include a network of fast chargers at key locations, as well as feature associated solutions such as parking and tolling services, in addition to digital platforms to facilitate EV charging. The project aligns with the UAE’s Net Zero by 2050 objectives.
Demand for EVs in the UAE market has witnessed growth over the past years, and is projected to see a compound annual growth rate (CAGR) of 30 per cent between 2022 and 2028, according to the global electric mobility readiness index published in 2022.
An expected 70,000 charging points are required in Abu Dhabi by 2030 to meet growing EV demand. An investment of up to $200m of CAPEX will be needed for this critical infrastructure.
“As electric vehicle adoption grows in the UAE, ADNOC Distribution and TAQA are well placed to meet the evolving needs of EV customers through the creation of the E2GO venture,” said Dr Sultan Ahmed Al Jaber, chairman of ADNOC Distribution.
The new venture is supported by a new regulatory policy for electric vehicle charging infrastructure in Abu Dhabi that the Abu Dhabi Department of Energy recently launched.
Read: Abu Dhabi introduces unified tariff for electric vehicle charging across emirate
“Decarbonising transport is an essential part of the UAE’s drive towards achieving its net zero ambitions,” added Mohamed Hassan Alsuwaidi, chairman of TAQA.
“The development of EV infrastructure facilitated by the E2GO joint venture will help bridge the gap in delivering clean energy to the wider public.”
ADNOC Distribution is currently offers compressed natural gas (CNG) fuel in 31 locations across its service stations network in the UAE. Meanwhile, TAQA is a low-carbon power and water champion with operations across 11 countries. In the UAE, it supplies more than 90 per cent of Abu Dhabi’s power and water needs.
Abu Dhabi has taken several strides in decarbonising transport and helping the country achieve its net-zero goals.
In September of last year, it said that it would welcome its first EV assembly facility, with KIZAD signing a lease agreement with green mobility technology company NWTN to establish the facility in the capital.
Read: Abu Dhabi to host its first electric vehicle assembly facility
NWTN delivered 20 range-extended electric vehicles (R-EEVs) to M93 Care Rental, at its newly constructed facility in the Khalifa Economic Zones Abu Dhabi (KEZAD).
Read: Sustainable transportation is going to be integral to cities down the road
