Masdar, one of the world’s leading renewable energy companies, has announced the divestment of its stake in the Sharjah Waste-to-Energy plant to Tadweer Group. The acquisition, subject to customary closing conditions, marks a significant strategic move for both companies as they focus on their core business strategies.
Tadweer Group, a leader in waste management, is now joining forces with BEEAH, a regional pioneer in sustainability and innovation, as joint venture partners in the Emirates Waste-to-Energy company. This partnership will see Tadweer and BEEAH jointly own and operate the Sharjah Waste-to-Energy plant.
This strategic acquisition aligns with Tadweer Group’s ambitions to expand its international footprint and enhance its operations in the UAE, as it continues to push the boundaries of sustainable waste management and energy conversion. Masdar, on the other hand, is accelerating its clean energy initiatives, focusing on scaling up its renewable energy capacity.
The Sharjah Waste-to-Energy plant, inaugurated in 2022 under the Emirates Waste-to-Energy company, is the first commercial-scale waste-to-energy facility in the Middle East. This plant plays a pivotal role in diverting waste from landfills and converting it into electricity, contributing to the UAE’s broader sustainability goals.
As part of the agreement, Tadweer Group and BEEAH will now synergize their expertise to enhance the operational capabilities of the Sharjah Waste-to-Energy plant. They plan to increase the plant’s power output from 30 MW to 60 MW, while also doubling its capacity to process hard-to-recycle waste and significantly reducing emissions.
Mohamed Jameel Al Ramahi, CEO of Masdar, expressed pride in the project’s impact: “We are proud of the impact this project has had within the UAE. As we transfer our stake, we are confident that Tadweer and BEEAH will continue to advance the project with strong leadership and a clear strategic vision.”
Ali Al Dhaheri, CEO of Tadweer Group, highlighted the strategic significance of the acquisition: “Acquiring this high-performing asset will further enhance Tadweer Group’s capabilities and support the UAE’s ambition to become a global leader in sustainable waste management and energy conversion.”
Khaled Al Huraimel, CEO of BEEAH Group, thanked Masdar for its partnership: “We look forward to further building on these accomplishments alongside Tadweer Group, marking a new chapter of growth and waste-to-energy innovation for the nation and the region.”
This acquisition reaffirms the commitment of Tadweer Group, BEEAH, and Masdar to advancing the UAE’s sustainability agenda. The organizations are set to collaborate on future innovative initiatives within the clean and renewable energy sector, driving the global energy transformation and supporting a more sustainable future for the UAE and beyond.
–Input WAM
