EWEC (Emirates Water and Electricity Company) and Zero Two, a digital assets infrastructure development firm based in Abu Dhabi, have partnered to make the the largest single purchase of Clean Energy Certificates (CECs) to date, that covers 7.3 million megawatt hours of clean energy.
This landmark purchase agreement was signed by Ahmed Al Hameli, CEO of Zero Two, and Othman Al Ali, CEO of EWEC. It was facilitated through EWEC’s CECs auction process. Besides being the largest ever single CECs purchase, it has also set an example for the digital assets infrastructure sector.
The firm disclosed that the purpose of this collaboration is to enable Zero Two to decarbonise its operations and meet its sustainability objectives.
“Our clean energy transaction with Zero Two provides EWEC with a unique opportunity to further accelerate the country’s energy transition and decarbonisation of industries in line with the UAE Net Zero by 2050 strategic initiative,” said Othman Al Ali, CEO of EWEC (Emirates Water and Electricity Company).
He pointed out that this partnership unveils their intention to support sustainability and environmental goals. Ahmed Al Hameli, CEO of Zero Two also supported the views and stressed the significance of operating digital assets with clean energy to contribute to Abu Dhabi’s transformation into a sustainable economic powerhouse and the UAE’s vision of a net-zero future.
Zero Two is reported to have formed collaborations with energy and utilities sectors, digital assets, and government institutions in order to foster the growth of the digital assets and Web3 ecosystem in Abu Dhabi and across the nation with investments in innovative technologies.