"Masdar" and "Bee & ah" announce completion of funding for Sharjah TAQA waste recycling project

Abu Dhabi Future Energy Company (Masdar) and Bee & ah, the leading environmental management company, have announced the completion of the Sharjah Waste Recycling Facility (TAQA) project. , worth $ 220 million, the first of its kind in the United Arab Emirates.
Project proponents include the Abu Dhabi Development Fund, Abu Dhabi Commercial Bank, Siemens Financial Services, Sumitomo Mitsui Banking and Standard Chartered Bank.
Khalid Al-Huraimel, CEO of BEAEA, HE Khalifa Abdullah Al Qubaisi, Deputy Managing Director of the Abu Dhabi Development Fund, Mohammed Jameel Al Rumhi, CEO of Masdar, and Mazin Zaidat, Head of Corporate Banking in Abu Dhabi. Mr. Ameen Said, Executive Vice President of Siemens Financial Services, Masatoshi Takesaki, Middle East Regional Director, Sumitomo Mitsui, and Mr. Abbas Hussain, Managing Director and Head of Middle East Exports and Finance. I, North Africa and Pakistan, at Standard Chartered Bank.
The company Emirates Waste Recycling Company (TAQA), a joint venture created between Masdar and Bee & ah and established last year, manages Sharjah 's waste disposal site and is expected to be operational in the future. by 2020.
The new facility, located in the Bee Waste Management Center in Sharjah, will process more than 37.5 tonnes per hour of municipal solid waste in order to generate electricity in a sustainable manner. Once operated, the facility will greatly help the UAE to achieve its goal of avoiding solid waste. 75% by 2021, as well as to help Sharjah reach its goal of avoiding the dumping of waste in landfills to 100%.
"The efforts of Bee & # 39; ah and Masdar were combined as part of this project to diversify renewable energy sources and helped to define the two companies as a sustainable energy source with a competitive advantage over the years. long term.
He pointed out that the support of a group of renowned financial institutions during this phase proved the importance of the project and its commercial feasibility in the pursuit of sustainable economic growth, which will allow Bee's to realize its ambition to make Sharjah the first waste-free city in the Middle East. To achieve the UAE waste management objectives.
"This project demonstrates the growth of innovative initiatives and innovative ideas in the marketing of the UAE energy sector and supports the country's ambition to provide 27% of its energy needs. from clean energy sources by 2020.
For his part, Mohammed Jamil Al Rumahi stressed the importance of the strategic partnership between Masdar and Bee & ah and expressed his pleasure to enter the development phase of the project.
He added that funding for this important project reflected the ability of renewable energy projects to attract local and international investors and institutions, while helping to make the Sharjah emirate a prime destination for investments, as well as joint efforts of its partners. Commercial projects of renewable energy in the UAE.
The capacity of the waste transfer facility in Sharjah is about 30 megawatts, enough to power about 28,000 homes in the UAE.
The new Sharjah facility aims to meet the highest environmental standards and to comply with the European Union's "Best Available Techniques" document, which defines the international standards adopted in this area. The French engineering company CNIM was commissioned last May to design and build the facility, Construction