His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Member of the Supreme Council for Financial and Economic Affairs (SCFEA), recently chaired the board meeting of ADQ, an active sovereign investor driving growth and prosperity for Abu Dhabi, in his capacity as Chairman of the Board of Directors of ADQ.
During the meeting, Sheikh Tahnoon commended ADQ’s contributions to building global business platforms, focusing on critical infrastructure and supply chains to drive growth.
“ADQ has been able to make consistent and increasing contributions to driving the resilience and competitiveness of the local economy. The achievements that were showcased to the board today underscore ADQ’s dedication to partnering with the Government of Abu Dhabi to execute priorities that are set to create enduring value,” stated Mohamed Hassan Alsuwaidi, managing director and Group CEO of ADQ.
ADQ expands Infrastructure & Critical Minerals cluster
During the meeting, the board reviewed ADQ’s financial performance during 2024, which continues its growth trajectory from previous years. The board also received an overview of key business milestones, underscoring ADQ’s role as an active investor with a focus on unlocking transformative value for its portfolio companies, and ultimately the local economy and communities.
ADQ’s recent milestones included the establishment of Plenary Middle East, a co-investment platform with Plenary Group, a leading independent investor, developer and manager of public-private infrastructure projects, targeting public and social infrastructure in the Middle East and Central Asia.
Additionally, the formation of Orion Abu Dhabi, a joint venture with Orion Resource Partners, a global investment firm specializing in metals and materials, will focus on investments in critical minerals in emerging markets across Africa, Asia and Latin America.
Both investments will be housed by the recently established Infrastructure & Critical Minerals cluster, which aims to support the creation of world-class platforms essential to the operation of diverse sectors of the economy.
“The two new joint ventures headquartered in Abu Dhabi will serve as a catalyst for the advancement of a broad variety of other sectors with high strategic importance, including energy, manufacturing, and real estate,” added Alsuwaidi.
ADQ expands global partnerships in key sectors
In continuation of ADQ’s track record of establishing impactful partnerships, it signed a Memorandum of Understanding (MoU) with the International Finance Corporation, the largest global development institution that focuses on the private sector, to pursue joint high-impact development projects in target geographies.
The sovereign investor also signed an agreement with the State Capital Investment Corporation, a sovereign wealth fund owned by the Government of Vietnam, to explore investment opportunities of mutual interest.
In 2024, ADQ also inked an MoU with Eni, a global energy technology company headquartered in Rome, to explore potential areas of strategic cooperation aimed at strengthening supply chains for critical minerals essential to driving the energy transition.
World’s first 24/7 solar and battery storage giga-project
The board also reviewed key achievements across ADQ’s portfolio of companies. This included the launch of the world’s first 24/7 solar and battery storage giga-project in Abu Dhabi by Emirates Water and Electricity Company (EWEC) and Abu Dhabi Future Energy Company PJSC (Masdar).
As the largest project of its kind, it will combine 19 GWh of battery storage capacity with 5.2 GW of solar photovoltaic power, setting a new benchmark in clean energy innovation.
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AI Board advisor launched
In line with the UAE National Strategy for Artificial Intelligence 2031, ADQ also developed an AI Board advisor, known as Q, a voice-enabled agentic system that combines multiple AIs working in harmony with state-of-the-art capabilities. Grounded in ADQ’s extensive knowledge base, Q is capable of providing expert advice and valuable insights during board discussions and intelligently articulating strategic perspectives that guide and shape the decision-making process.
The AI Board advisor was deployed during this meeting for the first time, positioning ADQ at the forefront of innovation and further strengthening corporate governance by integrating AI into the decision-making process.
At the conclusion of the meeting, the board reviewed the non-financial value and impact generated by ADQ through its role in elevating infrastructure and delivering the essentials of life, generating a positive impact on communities.
