Sunday 23 Feb
TAQA Arabia plans to expand its business operations in Saudi Arabia and East Africa, aiming to achieve 50% of its revenues from outside Egypt within the next five years.
In an interview, Pakinam Kafafy, CEO of Taqa Arabia, stated that the company seeks to obtain the necessary approvals to implement the Mobile Compressed Natural Gas (Mobile CNG) delivery technology in Saudi Arabia, aiming to capitalize on the promising opportunities offered by "Vision 2030" in the field of sustainability and carbon emission reduction. The company holds contracts worth 120 million riyals in Saudi Arabia and aspires to increase this value. The Mobile CNG technology relies on transporting compressed gas via equipped trucks to consumption sites, providing a rapid solution for gas delivery to remote areas. She cited the company's successful experience in Egypt, where TAQA Arabia was able to deliver gas to areas such as Safaga, while traditional pipelines only reach Hurghada.
The company plans to enhance its investments in Mozambique
and Tanzania, where it has established two new companies. In Mozambique, it
plans to establish three additional gas delivery stations, after previously
opening seven stations, and relies on Mobile CNG technology to deliver gas to
areas where traditional gas pipelines are not available. In Tanzania, it opened
a gas station last year, is preparing to launch a new station this month, and
is in talks with the government to obtain a distribution license in Dar es
Salaam. The company's operations in Mozambique have begun to generate annual profits.
TAQA Arabia has entered into a partnership with the French company Voltalia to establish an integrated clean energy plant with a capacity of 3.2 gigawatts at the Zafarana wind farm in Egypt. The plant will produce 1.1 gigawatts of wind energy and 2.1 gigawatts of solar energy, and it is scheduled to begin operational activities in 2028.
