Abu Dhabi Waste-to-Energy Initiative
CLIENT
EWEC and Tadweer
LOCATION
Abu Dhabi, UAE
DATE
2023
VALUE
SERVICES PROVIDED
Finacial Advisor
The Abu Dhabi Waste-to-Energy (WtE) project, awarded by Emirates Water & Electricity Company (EWEC) and Tadweer (Abu Dhabi Waste Management Company), is a transformative initiative supporting the UAE’s sustainability goals.
Located near the Al Dhafra landfill, the $600 million facility will process 900,000 tonnes of municipal solid waste annually, generating 80 MW of electricity—enough to power 52,500 households. By reducing carbon emissions by 1.1 million tonnes annually (equivalent to removing 240,000 cars from the road), the project significantly contributes to the UAE’s goal of diverting 75% of waste from landfills.
The facility will be developed, financed, constructed, operated, and maintained by a consortium comprising Japan’s Marubeni Corporation, Switzerland’s Hitachi Zosen Inova (HZI), the Japan Overseas Infrastructure Investment Corporation (JOIN) and Tadweer. Construction is expected to take three years, with commercial operations commencing in 2027 under a 30-year concession agreement.
TRIBE ADVISORY'S ROLE
Tribe Advisory served as the lead and financial advisor to EWEC and Tadweer, guiding the project from inception to financial close over three years.
As the first WtE project procured under the EWEC model and the first of its kind in Abu Dhabi, the facility represents a significant milestone in the region’s sustainability efforts. This marks Tribe’s third successful WtE transaction in the GCC, following on from Dubai and Sharjah, further solidifying its position as a leader in the sector.
Tribe’s role encompassed the entire project lifecycle, including business case development, stakeholder alignment, regulatory navigation, project structuring and financial feasibility, tender development and implementation.
Business Case Development & Approvals
Developed the initial business case and secured government approvals to advance the project.Procurement Management
Led the procurement process in line with Abu Dhabi’s Law No. 2 of 1998 (IPP Law), tailored for the WtE sector.
Collaborating with Ashurst, Tribe created a unique contracting structure, with Tadweer and EWEC as joint procurers, both signing the Concession Agreement with the Project Company. Managed the tender process and engaged with Developers and Investors.Stakeholder Coordination
Facilitated collaboration between EWEC, Tadweer, Transco, EAD, ADEO, Department of Finance and numerous bidding consortiums, ensuring alignment with Abu Dhabi’s sustainability objectives.Award and Financial Close
Oversaw the bid assessment and award process, culminating in a successful financial close in July 2024.
Secured investment for the project through a joint venture comprising Marubeni, HZI, and JOIN, with Tadweer holding a 60% government stake.
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