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The average 'economic cost' for electricity lies in the range of 36-41 fills/ kWh, according to our analysis of Abu Dhabi Department of Energy's price control (RC-2) final determinations and TAQA's 2023 financial statements.
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When founded in 2019, the Abu Dhabi-based company became the UAE's first battery energy storage system manufacturer. It is one of the portfolio companies of The Catalyst, a sustainability-focused startup technology accelerator and joint venture between BP and.
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The project, valued at approximately $6 billion (AED 22 billion), will integrate a 5. 2 gigawatt (GW) solar photovoltaic (PV) plant with a 19 gigawatt-hour (GWh) battery storage system — setting a new global benchmark for clean-energy innovation.
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