Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have reached financial close for a high-voltage direct current (HVDC) subsea transmission network project.

The $3.8bn project will be located in the Middle East and North Africa (MENA) region.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

It will be developed jointly by a consortium of Korea Electric Power (KEPCO), Kyushu Electric Power Company (Kyuden) and Électricité de France (EDF).

The consortium will collectively own a 40% stake in the project, while ADNOC and TAQA will each hold a 30% ownership.

Claimed to be the first subsea transmission network of its kind in the MENA region, the project will be built, owned and operated by the consortium alongside ADNOC and TAQA.

It will be returned to ADNOC after 35 years of operation.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

With an installed capacity of 3.2GW, the transmission system will have two independent subsea HVDC links and converter stations.

The transmission system is expected to enter the commercial operation phase in 2025.

The strategic project aims to power and ‘significantly’ decarbonise ADNOC’s offshore production operations by 30%.

It will also support the United Arab Emirates’ (UAE) Net Zero by 2050 Strategic Initiative.

TAQA chairman Mohamed Hassan Alsuwaidi said: “TAQA is taking a progressive role in accelerating the UAE’s energy transition by delivering cohesive solutions that enable cleaner sources of power to fuel economic growth.

“Reaching financial close is an important milestone for this distinctive project, which will see TAQA providing ADNOC offshore facilities with low-carbon energy securely and efficiently through TRANSCO’s power network system.

“TAQA continues to showcase how its expertise can be utilised to decarbonise industry through strategic partnerships and bringing value to its stakeholders.”

Last November, TAQA and ADNOC reached an agreement to form a joint venture for renewable energy and green hydrogen projects.

Power Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Power Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Recognised with three 2025 Power Technology Excellence Awards, Hover Energy is at the forefront of intelligent microgrids and distributed renewables. Explore how its AI-enabled Microgrid Management System™ , strategic partnerships and networked microgrids are rebuilding the grid from the ground up for a more flexible, resilient energy future.

Discover the Impact