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TAQA, EWEC, Marubeni Corporation, Mubadala and Hokuriku Electric Power Company Announce Full Operations of Fujairah F3 Independent Power Producer Project

Abu Dhabi, UAE 27 October 2025

Fujairah F3 is among the largest, most advanced and efficient gas-fired power plants in the region, supporting the UAE’s energy transition with flexible, low-emission generation capacity

EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing, supply, and system despatch services of water and electricity across the UAE, Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utility companies in Europe, the Middle East, and Africa, Marubeni Corporation, Mubadala Investment Company and Hokuriku Electric Power Company, today announced the commencement of full commercial operations at the Fujairah F3 Independent Power Producer (IPP) project.

Located in the Qidfa area of the Emirate of Fujairah, the 2.4 gigawatt (GW) facility is one of the largest and most efficient gas-fired power plants in the UAE. Fujairah F3 is capable of powering approximately 380,000 homes, delivering reliable electricity while supporting the integration of renewable energy and contributing to the UAE’s strategic energy transition.

The plant features state-of-the-art JAC-class gas turbine technology from Mitsubishi Power, integrated into one of the most advanced Combined Cycle Gas Turbine (CCGT) configurations in the region. With high thermal efficiency, rapid response capability, and a low emissions profile, Fujairah F3 is a key component of the UAE’s shift towards cleaner and more sustainable energy production.

Developed under the IPP model, TAQA owns a 40% stake in the project company, Marubeni Corporation 20.4%, Mubadala 20% and Hokuriku Electric Power the remaining 19.6%. EWEC is the sole procurer of electricity from the project, under a long-term Power Purchase Agreement (PPA).

Andreas Collor, Chief Operations Officer of TAQA’s Generation business, said: “The Fujairah F3 IPP reaching full commercial operations is an important milestone for TAQA in our journey to deliver reliable and flexible power generation solutions that support our company’s growth ambitions and the broader energy transition in the UAE. Fujairah F3 plays a crucial role in meeting growing power demand and will provide reliable baseload power, while also providing the flexibility needed to integrate more renewables into the grid. This plant exemplifies our commitment to becoming the low-carbon power and water champion, as we grow our gas-fired power generation fleet for a resilient and future-ready energy portfolio.”

Mohamed Almarzooqi, Chief Asset Development & Management Officer of EWEC, said: “The commencement of full commercial operations at Fujairah F3 marks a major achievement in our strategic energy infrastructure development. The plant provides transitional capacity, supporting the integration of utility-scale renewable energy while ensuring grid reliability during peak demand periods. We are pleased to have worked alongside our partners to deliver this facility, which supports the reduction in the carbon intensity of electricity generation.”

Dr. Alyazia Ali Al Kuwaiti‏, Executive Director of the UAE Industries unit, Mubadala's UAE Investments platform said: “At Mubadala, we are proud to contribute to the UAE’s energy transformation through responsible investment in strategic infrastructure like the Fujairah F3 Power Plant. This project not only strengthens national energy security but also uplifts local communities and accelerates our journey toward Net Zero. By championing innovation and sustainability, we reaffirm our commitment to building a resilient future for the UAE—one that balances economic growth with environmental stewardship."

Naoki Ito, Executive Officer and Chief Operating Officer Power & Infrastructure Service Division of Marubeni Corporation, said: “We are honoured to mark the successful start of commercial operations at the Fujairah F3 project with our valued partners. As an investor with a longstanding commitment to the global power sector, Marubeni seeks to contribute to the UAE’s ongoing energy transformation. This project demonstrates the positive impact of international partnership and innovative approaches in meeting the region’s evolving energy needs. We remain committed to fostering sustainable growth and value creation in the UAE through close collaboration with all stakeholders.”

Masayoshi Hayashi, Managing Executive Officer of Hokuriku Electric Power Company, said: “We are proud to participate in the Fujairah F3 project and achieve this significant milestone of full commercial operations announced today. By leveraging our extensive experience and expertise in thermal power generation, we are committed to supporting the delivery of reliable, efficient, and low-emission electricity in the UAE. This project represents a significant step in our strategy to expand internationally and achieve ambitious profit growth from businesses, while contributing to the region’s sustainable energy future in partnership with our esteemed collaborators.”

Les Graham, Executive Managing Director of Fujairah Power Company F3 LLC, commented: “The highly efficient and flexible Fujairah F3 Plant will enable further growth of intermittent renewable energy in the UAE in line with the vision of a sustainable grid, while supporting growing demand.”

Fujairah F3 plays a critical role in enabling EWEC’s long-term strategy to increase the share of renewable and clean energy in the electricity generation mix. The plant’s flexible operations and high-efficiency generation capacity complement the integration of intermittent renewable energy into the grid, supporting a modern, decarbonised energy system.

Fujairah F3 is a significant addition to the UAE’s electricity generation capacity, exemplifying the country’s commitment to deploying cutting-edge technologies that reduce emissions, boost efficiency, and support sustainable development.

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About TAQA

Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, water treatment and reuse, transmission and distribution assets, as well as upstream and midstream oil and gas operations. TAQA owns and manages assets in 25 countries. For more information, please visit:

For TAQA media enquiries, please contact:www.taqa.com. and follow us @TAQAGroup on LinkedIn, X, Instagram and YouTube.

For TAQA media enquiries, please contact: media.hq@taqa.com.

About Marubeni Corporation

Marubeni Corporation is a major Japanese general trading and investment conglomerate with more than 160 years of history. Headquartered in Tokyo, Marubeni continues to expand its businesses across the globe, with a presence in 126 branches and offices worldwide.

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, food & agribusiness, metals & mineral resources, energy & chemicals, power & infrastructure services, finance, leasing & real estate business, aerospace & mobility, next generation business development and next generation corporate development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s US$330 billion (AED 1,212 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

For more information about Mubadala Investment Company, please visit: www.mubadala.com.

About Hokuriku Electric Power Company

Founded in 1951, Hokuriku Electric Power Company has been a cornerstone of energy supply and innovation in the Hokuriku region of Japan. With a longstanding commitment to stable and reliable electricity provision, the company has continually evolved to meet the changing needs of society and industry, supporting regional development and contributing to the well-being of local communities.

Under its Medium-Term Management Plan, Hokuriku Electric Power Group is actively pursuing business domain expansion as one of its core strategies for sustainable growth. In addition to strengthening its domestic operations, the Group is accelerating initiatives in new business areas, including overseas power generation projects to realize its vision of contributing to a decarbonized and sustainable global society.

About Emirates Water and Electricity Company

EWEC (Emirates Water and Electricity Company) is the sole procurer and supplier of water and electricity in the emirate of Abu Dhabi. EWEC drives the planning, forecasting, purchasing, and system despatch services of water and electricity. EWEC fulfils these vital responsibilities through the short-term and long-term balancing of bulk supply and demand for distribution companies and authorities in Abu Dhabi and other Emirates. EWEC is supporting the government of Abu Dhabi and the government of the UAE by enabling the reduction of cost whilst also providing the increased security of supply that comes from a cleaner, larger, and more integrated system.

EWEC is mandated to implement strategic initiatives that will achieve the 60 per cent clean energy target outlined in the Abu Dhabi Department of Energy's (DoE) Clean Energy Strategic Target 2035 for Electricity Production in Abu Dhabi, in addition to enabling the achievement of UAE Water Security Strategy 2036, UAE Energy Strategy by 2050, and the UAE Net Zero by 2050 strategic initiative. EWEC is accelerating Abu Dhabi and the UAE’s energy transition by diversifying the country’s energy mix through developing and deploying renewable and clean energy as well as low-carbon intensive water desalination capacities. 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.

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