France’s Engie is looking to boost its operations in the GCC's renewables sector and make the most of opportunities, a senior executive has said.
“Renewables is top of the agenda,” Frederic Claux, Engie’s country manager for the GCC and Pakistan, told The National at the Abu Dhabi Sustainability Week event.
“We want to grow this business in the region and are following up on a few transactions that have been announced recently.”
The UAE and Saudi Arabia, the Arab world’s two largest economies, are boosting their investments in renewables as they aim to achieve net-zero emission targets in the coming decades.
The UAE, Opec's third largest oil producer, has planned Dh600 billion ($163.37 billion) worth of clean and renewable energy investments over the next three decades.
Saudi Arabia aims to grow the share of gas and renewable energy in its power mix to 50 per cent by 2030. Last year, it launched five new renewable energy projects to produce electricity sustainably, as the kingdom, the world's largest exporter of oil, pursues a goal of net-zero emissions by 2060.
Engie is reviewing its options with regards to new wind project bids in Saudi Arabia as well as the 1.5 gigawatts Al Ajban solar plant in Abu Dhabi, Mr Claux said.
The company is also involved in a smaller-scale 30 megawatts solar project in Saudi Arabia in partnership with the kingdom’s National Agricultural Development Company.
It aims to finance projects through a mix of debt and equity, he said.
Global renewable power capacity growth is on track to nearly double in the next five years, overtaking coal as the largest source of electricity generation, the International Energy Agency said last month.
Renewable power capacity is expected to grow by 2,400 gigawatts by 2027, equivalent to the current power capacity of China, the world’s second largest economy, the IEA said.
Paris-listed Engie is bullish on GCC growth as its economies recover from the coronavirus pandemic on the back of higher oil prices and new government initiatives.
“The region is booming because of a lot of liquidity and there is a willingness to invest in new solutions to decarbonise businesses, not only the energy business, but also energy-intensive industries like cement factories and steel factories,” said Mr Claux, who is also Engie's managing director for thermal and supply for Asia, Middle East and Africa.
Last year, the UAE Ministry of Energy and Infrastructure signed a preliminary agreement with Engie Solutions, a subsidiary of Engie, to develop clean energy projects and support the country's decarbonisation goals.
The GCC region currently accounts for 15 per cent of the company’s total annual revenue. That share is anticipated to grow in the coming years as Engie bids for new projects and expands its operations.
“We want to win a few projects and increase our business in the region,” Mr Claux said, without divulging expected revenue growth from the region.
“The key countries are the UAE and Saudi Arabia and, to an extent, Qatar.”
Engie reported an 85 per cent surge in its revenue for the first nine months of 2022 to €69.3 billion ($75 billion). It added 2.5 gigawatts in renewables capacity during the period, according to its financial statement.
It is accelerating renewables development internationally with plans to add 4 gigawatts on average per year of capacity until 2025.
The company wants to increase its renewable energy capacity to 80 gigawatts by 2030, from 35 gigawatts at present.
The company was not affected by the Russia-Ukraine conflict, but faced supply chain disruptions as a result of coronavirus lockdowns in China, Mr Claux said.
Looking ahead, Engie plans to invest in Saudi Arabia’s $500 billion Neom project across renewables, desalination, district cooling, engineering services and data centres, as part of its expansion plans.
“There is a whole spectrum of possibilities and we are engaging with them on different fronts,” he said.
Green hydrogen is also an area of focus for Engie as demand for the low-carbon fuel rises globally.
“We formed a partnership with Masdar and won a couple of projects … we are looking into Oman and Saudi Arabia at the moment,” Mr Claux said.
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
Match info
Manchester United 1
Fred (18')
Wolves 1
Moutinho (53')
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Company%20profile
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The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
Roll of honour: Who won what in 2018/19?
West Asia Premiership: Winners – Bahrain; Runners-up – Dubai Exiles
UAE Premiership: Winners – Abu Dhabi Harlequins; Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens: Winners – Dubai Hurricanes; Runners-up – Abu Dhabi Harlequins
UAE Conference: Winners – Dubai Tigers; Runners-up – Al Ain Amblers
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Mohammed bin Zayed Majlis
More from Neighbourhood Watch:
Zayed Sustainability Prize
The biog
Most memorable achievement: Leading my first city-wide charity campaign in Toronto holds a special place in my heart. It was for Amnesty International’s Stop Violence Against Women program and showed me the power of how communities can come together in the smallest ways to have such wide impact.
Favourite film: Childhood favourite would be Disney’s Jungle Book and classic favourite Gone With The Wind.
Favourite book: To Kill A Mockingbird for a timeless story on justice and courage and Harry Potters for my love of all things magical.
Favourite quote: “We make a living by what we get, but we make a life by what we give.” — Winston Churchill
Favourite food: Dim sum
Favourite place to travel to: Anywhere with natural beauty, wildlife and awe-inspiring sunsets.
UAE currency: the story behind the money in your pockets
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
DUBAI%20BLING%3A%20EPISODE%201
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