EWEC and Zero Two Announce Largest Single Clean Energy Certificates Purchase to Date
Clean Energy Certificates purchase covers 7.3 million megawatt hours
Purchase accelerates decarbonisation of Zero Two’s advanced digital assets infrastructure
Abu Dhabi, UAE – 23 May 2023: EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing, and supply of water and electricity across the UAE, and Zero Two, a leading digital assets infrastructure development company based in Abu Dhabi, have jointly announced the largest single purchase of Clean Energy Certificates (CECs) to date, covering 7.3 million megawatt hours of clean energy.
The purchase agreement was signed by Ahmed Al Hameli, Chief Executive Officer of Zero Two, and Othman Al Ali, Chief Executive Officer of EWEC.
The CECs were purchased through EWEC’s CECs auction process and represent not only the largest ever single CECs purchase to date but also the first in the digital assets infrastructure sector. Under the purchase agreement, EWEC will provide Zero Two with clean energy certificates to decarbonise its operations and support the company’s progress against sustainability objectives.
Othman Al Ali, Chief Executive Officer of EWEC, said: “Our clean energy transaction with Zero Two provides EWEC with a unique opportunity to further accelerate the country’s energy transition and decarbonisation of industries in line with the UAE Net Zero by 2050 strategic initiative. This first-of-its-kind transaction in the digital assets infrastructure sector, which also constitutes the largest ever single CECs purchase to date, demonstrates both EWEC’s and Zero Two’s commitment to supporting the nation’s sustainability and environmental agenda and is an example of the practical and tangible steps UAE entities can take to decarbonise their operations and address the pressing challenge of climate change.”
Ahmed Al Hameli, CEO of Zero Two, stated: “The purchase of EWEC’s Clean Energy Certificates demonstrates our dedication to sustainability and commitment to decarbonising our digital assets infrastructure. Operating our assets with clean energy enables us to support Abu Dhabi’s transformation into a sustainable economic powerhouse while also contributing to the UAE’s long-term vision of a net zero future.”
Zero Two collaborates with leading entities in the energy and utilities sector, digital assets sector as well as some government institutions. The company aims to lead the growth of the digital assets and Web3 ecosystem in Abu Dhabi and the region by investing in and adopting cutting-edge technologies.
Francois Brice, Fuel & Commercial Executive Director at EWEC, said: “We are proud to be supplying Zero Two with clean energy, enabling them to achieve their sustainability objectives by supporting the decarbonisation of their digital asset infrastructure. The Clean Energy Certificates scheme is enabling organisations from a variety of sectors and industries to actively contribute to a sustainable future, and we encourage other entities across the UAE to participate in our upcoming CECs auctions.”
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About Emirates Water and Electricity Company
Emirates Water and Electricity Company (EWEC) drives the planning, forecasting, purchase and supply of water and electricity in Abu Dhabi and beyond. EWEC performs its role as the sole procurer of water and electricity from independent producers, ensuring the short- and long-term balancing of bulk supply and demand for distribution companies. EWEC is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. For more information, please visit www.ewec.ae.
About Zero Two
Zero Two is a digital assets infrastructure development company focused on supporting the resiliency of the local power grid as the nation progresses on its Net Zero journey. Headquartered in Abu Dhabi, with an ambition to develop, operate and invest in best-in-class technologies to accelerate and support the digital asset and Web3 ecosystem in the region, Zero Two partners with leaders in the energy and utilities sector as well as government institutions.
For more information, please visit www.zero-two.ae