Masdar announces divestment of its stake to Tadweer Group

Abu Dhabi Future Energy Company-Masdar, one of the world's leading renewable energy companies, on Wednesday announced the divestment of its stake, subject to customary closing conditions, in the Sharjah Waste-to-Energy plant to Tadweer Group, a leader in unlocking the value of waste.

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The move also brings Tadweer Group together with BEEAH, the region's sustainability and innovation pioneer, as joint venture partners in the Emirates Waste-to-Energy company, which owns and operates the Sharjah Waste-to-Energy plant.

The acquisition by Tadweer Group of Masdar's stake is a strategic decision to allow the two organisations to focus on their respective core business strategies.

Masdar is continuing to ramp up its clean energy capacity, while Tadweer Group is focusing on its UAE operations and international expansion to support its ambitions to become an international leader in sustainably unlocking the value of waste.

Tadweer Group and BEEAH will now synergise their waste management expertise for the sustainable operations of the Sharjah Waste-to-Energy plant, while paving the way for future projects through their Emirates Waste-to-Energy joint venture.

The Sharjah Waste-to-Energy project was inaugurated in 2022 under the Emirates Waste to-Energy company as the first commercial-scale waste-to-energy plant in the Middle East. It plays a vital role in diverting waste from landfills and converting it into electricity, supporting the UAE's broader sustainability objectives.