ADNOC and Abu Dhabi Energy Corporation launch a joint tender for the establishment of a high-voltage undersea electricity transmission network.
The power network must link the production facilities of ADNOC marine fields to the Abu Dhabi Energy Corporation’s onshore electricity network, using the latest advanced technologies.
This project is the first of its kind in the Middle East and North Africa.
The project is expected to contribute to reducing the environmental impacts of ADNOC marine activities by up to 30% through the efficiency of electrical energy production through the Abu Dhabi Energy Corporation’s onshore facilities. The project will also lead to the possibility of reducing the electrical energy supply costs for ADNOC’s offshore facilities, increasing operational efficiency and enhancing the reliability of the existing marine electrical power supply system based on gas turbine generators and replacing them with diverse, more efficient and environmentally sustainable energy sources, including renewable and nuclear energy.
This mega project will be funded through a private financing mechanism jointly owned by ADNOC 30%, Abu Dhabi Energy Corporation at 30%, developer companies and investors by 40%. The project will be implemented in the system of building, ownership, operation and transfer of ownership (BOOT), where the winning company, along with ADNOC and the Abu Dhabi Energy Corporation, will develop and operate the electric power transmission system, provided that the entire project will be returned to ADNOC at the end of the agreement.