Abu Dhabi National Energy Co, also known as TAQA, is a leading energy company based in the United Arab Emirates. The company operates in the Fossil Electric - Regulated sector, which involves the generation and distribution of electricity from fossil fuels. However, TAQA is also committed to decarbonisation and has been actively exploring renewable energy sources to reduce its carbon footprint and contribute to a sustainable future.

TAQA was established in 2005 by the government of Abu Dhabi as a public joint stock company. The company's primary objective is to develop and operate energy projects in the UAE and abroad, with a focus on power generation, water desalination, and oil and gas exploration and production. TAQA has a diverse portfolio of assets, including power plants, pipelines, and oil and gas fields, and has operations in the Middle East, Europe, North America, and Asia.

TAQA's commitment to decarbonisation is reflected in its strategy to reduce greenhouse gas emissions and transition to a low-carbon economy. The company has set ambitious targets to reduce its carbon footprint, including a 30% reduction in greenhouse gas emissions by 2030 and a net-zero emissions target by 2050. To achieve these goals, TAQA is investing in renewable energy projects and exploring new technologies to reduce emissions from its fossil fuel-based operations.

One of TAQA's key initiatives in the renewable energy space is the development of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a renewable energy supplier and a corporate buyer, typically a large energy user such as a corporation or a government entity. The PPA allows the buyer to purchase renewable energy directly from the supplier, which helps to reduce their carbon footprint and lower their energy costs.

TAQA has been actively pursuing corporate PPAs in the UAE and abroad, with a focus on solar and wind energy projects. In 2020, the company signed a 20-year PPA with Abu Dhabi National Oil Company (ADNOC) to develop a 2 GW solar project in Abu Dhabi. The project is expected to be one of the largest solar installations in the world and will help to reduce ADNOC's carbon footprint by 2.4 million tonnes of CO2 per year.

In addition to corporate PPAs, TAQA is also investing in renewable energy projects through its subsidiary, Abu Dhabi Future Energy Company (Masdar). Masdar is a leading developer and operator of renewable energy projects, with a portfolio of assets that includes wind and solar power plants, energy storage systems, and sustainable urban development projects.

TAQA's commitment to renewable energy and decarbonisation is also reflected in its corporate energy management program. The program aims to reduce energy consumption and improve energy efficiency across the company's operations, including power plants, offices, and other facilities. TAQA has implemented a range of energy-saving measures, such as upgrading equipment and systems, optimizing operations, and promoting energy conservation among employees.

TAQA's efforts to decarbonize its operations and invest in renewable energy have been recognized by the industry and the wider community. The company has received several awards and accolades for its sustainability initiatives, including the Gulf Sustainability and CSR Awards, the Middle East Energy Awards, and the Abu Dhabi Sustainability Awards.

In conclusion, Abu Dhabi National Energy Co (TAQA) is a leading energy company based in the United Arab Emirates that operates in the Fossil Electric - Regulated sector. However, the company is also committed to decarbonisation and has been actively exploring renewable energy sources to reduce its carbon footprint and contribute to a sustainable future. TAQA's initiatives in the renewable energy space include corporate power purchase agreements (PPAs), investments in renewable energy projects through its subsidiary Masdar, and a corporate energy management program. The company's efforts to decarbonize its operations and invest in renewable energy have been recognized by the industry and the wider community, making TAQA a key player in the transition to a low-carbon economy.