On of our largest portfolio companies, Emirates Global Aluminium (EGA), in the last several years has taken purposeful steps toward decarbonization in aluminium production, transferring 6,474 MW of gas-fired power generation capacity to TAQA and Dubai Holding. This ambitious move and future collaboration with Emirates Water and Electricity Company (EWEC) aim to uplift Abu Dhabi’s solar power generation capacity . EGA further purchased Clean Energy Certificates for 1.1 million MWh of electricity supplied by EWEC to support the production of CelestiAL solar aluminium.
In 2022, EGA reached a momentous milestone in its history, having produced 40 million tonnes of hot metal since its inception in 1979. The upcoming inauguration of the UAE’s largest aluminium recycling facility further underscores EGA’s efforts in sustainable resource management.
Moreover, EGA achieved record operational and financial results across all business verticals, allowing its shareholders’ dividend payouts of AED 3.67 billion and AED 5.8 billion of debt pre-payment.
EGA paves the way for a greener future and contributes to the UAE’s ambitious sustainability efforts by embracing circular economy principles and championing decarbonization.
