عربي English Türkçe اردو فارسى
Logo
Latest News
Business

UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
TT
TT

UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.

The Emirates Nuclear Energy Corporation (ENEC) announced on Thursday the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant, reported the United Arab Emirates' state news agency (WAM).

Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatts and further securing energy supply and advancing the UAE's sustainability goals.

This new milestone takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply up a quarter of the country's electricity needs, reliably powering the economy by generating clean electricity 24/7 and significantly contributing to the UAE's Net-Zero by 2050 initiative.

With Unit 2 commercially operational, the Barakah Plant, the first multi-unit operating plant in the Arab world, is leading the largest decarbonization of any industry in the region, delivering thousands of megawatts of carbon-free electricity every single day.

Mohamed Ibrahim Al Hammadi, Managing Director and CEO of ENEC, said: "The Barakah Nuclear Energy Plant is a sustainable powerhouse for the UAE. The start of commercial operations at Unit 2 doubles the Barakah Plant's generation of emissions-free electricity, enabling rapid decarbonization of the UAE's power sector in pursuit of Net Zero 2050."

"With Unit 2 reaching commercial operations less than 12 months after Unit 1, we have demonstrated the UAE's megaproject capabilities, building institutional knowledge to enhance delivery to the highest standards and offer a successful case study for other nations looking to diversify their energy portfolio using a proven and sustainable technology."

While increasingly supporting the country's strategy to diversify energy sources in a shift towards cleaner energy, ENEC is also spearheading the UAE Net-Zero by 2050 Strategic Initiative by preventing millions of tons of carbon emissions and helping to tackle climate change and deliver climate solutions.

When its four units are commercially operating, the Barakah Plant will produce up to 25 percent of the UAE's electricity needs and prevent about 22.4 million tons of carbon emissions annually, equivalent to the emissions of 4.8 million cars. The Barakah Plant significantly boosts the UAE's energy security through domestic clean electricity generation.

By 2025, the plant will generate more than 85 percent of Abu Dhabi's clean electricity, making it the biggest contributor to reducing Abu Dhabi's carbon emissions by 50 percent by the middle of the decade.

Nasser Al Nasseri, the CEO of Barakah One Company, ENEC's subsidiary in charge of representing the financial and commercial interests of the Barakah Plant project, said: "Today is an integral day for the delivery of the Barakah Nuclear Energy Plant project with the commercial operations of Unit 2, we are now selling double the volume of electricity to the Emirates Water and Electricity Company (EWEC) per the Power Purchase Agreement signed in 2016."

"We are committed to efficient and reliable power generation to ensure homes, businesses and industry across the UAE have continuous access to clean baseload electricity and will do so for the coming 60 years ahead. The sale of electricity further supports Abu Dhabi's Clean Energy Certification program, allowing more businesses to demonstrate the sustainability credentials and stimulating the growth of our Net Zero economy."

The commercial operations of Unit 2 were completed with the continuous support of EWEC and the Abu Dhabi Transmission and Dispatch Company (TRANSCO). EWEC and TRANSCO's support in maintaining a world-class electric grid infrastructure is critical for the reliable distribution of electricity from the Barakah Plant. They ensured that the clean electricity generated at Barakah is delivered to consumers across the UAE safely and sustainably.

Ali Al Hammadi, CEO of Nawah Energy Company, ENEC's subsidiary mandated to operate and maintain the Barakah Plant, commented: "The start of Unit 2 commercial operations comes as a result of the world-class operating experience of our teams made up of UAE nationals and international experts. Over the years, they have the skills and expertise in the nuclear industry to safely provide constant, reliable and sustainable clean electricity around the clock from two identical units operating in parallel."

"We are committed to operating the plant in line with the UAE's robust regulations and international best practice on our ongoing journey to operating excellence."

Unit 2 joins Unit 1, which kicked off commercial operation in April 2021. Units 3 and 4 are in the final stages of commissioning, with Unit 3 construction already complete and now undergoing operational readiness preparations and Unit 4 is in the final stages of construction completion. The development of the Barakah Plant is now more than 96 percent complete, having steadily progressed since construction started in 2012.

The Barakah Nuclear Energy Plant, located in the Al Dhafra Region of the Emirate of Abu Dhabi, is one of the largest nuclear energy plants in the world, with four APR-1400 units. While delivering on its clean energy vision through the peaceful nuclear program, ENEC also provides talented UAE youth with the skills, capabilities and experience necessary to become the future leaders of the nation's growing peaceful nuclear energy sector.

Most Viewed

 
 
Business

China's Finance Ministry: Fiscal Policies Will be More 'Proactive' in 2026

A man walks on a street in Beijing, China, 24 December 2025. EPA/WU HAO
A man walks on a street in Beijing, China, 24 December 2025. EPA/WU HAO
TT
TT

China's Finance Ministry: Fiscal Policies Will be More 'Proactive' in 2026

A man walks on a street in Beijing, China, 24 December 2025. EPA/WU HAO
A man walks on a street in Beijing, China, 24 December 2025. EPA/WU HAO

China's finance ministry on Sunday said fiscal policies will be more proactive next year, reiterating its focus on domestic demand, technological innovation and a social safety net.

The statement comes as trading partners urge the world's second-biggest economy to reduce its reliance on exports, underscoring the urgency to revive confidence at home where a prolonged property crisis has rippled ⁠through the economy, weighing on sentiment.

China will boost consumption and actively expand investment in new productive forces and people's overall development, the ministry said in a statement after a two-day meeting at which it set ⁠2026 goals.

In addition, Reuters quoted the ministry as saying that it will support innovation to foster new growth engines, and improve the social security system by providing better healthcare and education services.

Other tasks for next year include promoting integration between urban and rural areas, and propelling China's transformation into a greener society.

China is likely to stick to ⁠its annual economic growth target of around 5% in 2026, government advisers and analysts told Reuters, a goal that would require authorities to keep fiscal and monetary spigots open as they seek to snap a deflationary spell.

Leaders this month promised to maintain a "proactive" fiscal policy next year that would stimulate both consumption and investment to maintain high economic growth.

Business

Bulgaria Adopts Euro Amid Fear and Uncertainty

Customers shop in a grocery store in the village of Chuprene, northwestern Bulgaria on December 7, 2025. (Photo by Nikolay DOYCHINOV / AFP)
Customers shop in a grocery store in the village of Chuprene, northwestern Bulgaria on December 7, 2025. (Photo by Nikolay DOYCHINOV / AFP)
TT
TT

Bulgaria Adopts Euro Amid Fear and Uncertainty

Customers shop in a grocery store in the village of Chuprene, northwestern Bulgaria on December 7, 2025. (Photo by Nikolay DOYCHINOV / AFP)
Customers shop in a grocery store in the village of Chuprene, northwestern Bulgaria on December 7, 2025. (Photo by Nikolay DOYCHINOV / AFP)

Bulgaria will become the 21st country to adopt the euro on Thursday, but some believe the move could bring higher prices and add to instability in the European Union's poorest country.

A protest campaign emerged this year to "keep the Bulgarian lev", playing on public fears of price rises and a generally negative view of the euro among much of the population.

But successive governments have pushed to join the eurozone and supporters insist it will boost the economy, reinforce ties to the West and protect against Russia's influence.

The single currency first rolled out in 12 countries on January 1, 2002, and has since regularly extended its influence, with Croatia the last country to join in 2023.

But Bulgaria faces unique challenges, including anti-corruption protests that recently swept a conservative-led government from office, leaving the country on the verge of its eighth election in five years.

Boryana Dimitrova of the Alpha Research polling institute, which has tracked public opinion on the euro for a year, told AFP any problems with euro adoption would be seized on by anti-EU politicians.

Any issues will become "part of the political campaign, which creates a basis for rhetoric directed against the EU", she said.

While far-right and pro-Russia parties have been behind several anti-euro protests, many people, especially in poor rural areas, worry about the new currency.

"Prices will go up. That's what friends of mine who live in Western Europe told me," Bilyana Nikolova, 53, who runs a grocery store in the village of Chuprene in northwestern Bulgaria, told AFP.

The latest survey by the EU's polling agency Eurobarometer suggested 49 percent of Bulgarians were against the single currency.

After hyperinflation in the 1990s, Bulgaria pegged its currency to the German mark and then to the euro, making the country dependent on the European Central Bank (ECB).

"It will now finally be able to take part in decision making within this monetary union," Georgi Angelov, senior economist at the Open Society Institute in Sofia, told AFP.

An EU member since 2007, Bulgaria joined the so-called "waiting room" to the single currency in 2020, at the same time as Croatia.

The gains of joining the euro are "substantial", ECB president Christine Lagarde said last month in Sofia, citing "smoother trade, lower financing costs and more stable prices".

Small and medium-sized enterprises stand to save an equivalent of some 500 million euros ($580 million) in exchange fees, she added.

One sector expected to benefit in the Black Sea nation is tourism, which this year generated around eight percent of the country's GDP.

Lagarde predicted the impact on consumer prices would be "modest and short-lived", saying in earlier euro changeovers, the impact was between 0.2 and 0.4 percentage points.

But consumers -- already struggling with inflation -- fear they will not be able to make ends meet, according to Dimitrova.

Food prices in November were up five percent year-on-year, according to the National Statistical Institute, more than double the eurozone average.

Parliament this year adopted empowered oversight bodies to investigate sharp price hikes and curb "unjustified" surges linked to the euro changeover.

But analysts fear wider political uncertainty risks delaying much needed anti-corruption reforms, which could have a knock-on effect on the wider economy.

"The challenge will be to have a stable government for at least one to two years, so we can fully reap the benefits of joining the euro area," Angelov said.

Business

Syria Prepares to Launch New Currency Amid Major Challenges

Syrian Central Bank Governor Abdulkader Husrieh (X)
Syrian Central Bank Governor Abdulkader Husrieh (X)
TT
TT

Syria Prepares to Launch New Currency Amid Major Challenges

Syrian Central Bank Governor Abdulkader Husrieh (X)
Syrian Central Bank Governor Abdulkader Husrieh (X)

Syria’s central bank governor, Abdulkader Husrieh, said the new Syrian pound is not merely a means of exchange but a symbol of the success of the Syrian revolution, national belonging, and confidence in the country’s ability to recover.

In a Facebook post, Husrieh said that with the launch of the new currency, Syrians were not just celebrating a banknote, but also celebrating their sovereignty and national identity, noting that many international experiences show that national currencies become strong when people rally around them, according to the Syrian Arab News Agency.

He pointed to Germany’s experience, where the introduction of the mark after the war marked the starting point of economic recovery, and to France, where the new French franc became the financial symbol of the new republic, known as the Fifth Republic.

Husrieh said the central bank would carry out its role with a clear understanding of the challenges and opportunities, while committing to responsibility, transparency, and the protection of the national currency. He added that the cornerstone remains public solidarity and trust, because a strong currency begins with the people's belief in it.

He called for turning the launch into a dignified national occasion through which Syrians express awareness, confidence, and adherence to the pound as a symbol of sovereignty and a national choice.

Husrieh added that supporting the pound is supporting the nation, and taking pride in it is a matter of pride in the future for Syrians and their children. He described the move as an opportunity for a new success following the success of the revolution in liberation and the lifting of economic sanctions that had shackled Syria’s economy for nearly fifty years.

Husrieh had recently announced that Jan. 1, 2026, would mark the launch of the new Syrian currency and the start of the exchange process for the old notes, with the exchange to be carried out through 66 companies and 1,000 designated outlets.

Restoring confidence

Political and economic researcher Bassel Kouwefi said the exchange plans, if well implemented, could serve as an entry point for rebuilding confidence in the national economy, encouraging domestic investment, and paving the way for broader reforms in the financial sector. However, he warned against failing to address the root causes of inflation and economic collapse during the previous regime's rule.

Speaking to Asharq Al-Awsat, Kouwefi described currency exchange and the removal of zeros as complex economic measures.

He said their main benefits include simplifying daily transactions, reducing the volume of banknotes in circulation, boosting confidence in stability, lowering printing and transportation costs, simplifying accounting records and financial software, and reducing currency speculation driven by corruption networks seeking to undermine stability in Syria.

Kouwefi said the exchange plans, if well-executed, could help restore confidence in the macroeconomy, but stressed the challenges posed by failing to tackle the fundamental causes of past inflation and collapse, including fiscal deficits, instability, and weak production. He said a comprehensive economic and financial program was therefore essential.

He added that the process also requires strong banking infrastructure, an organized transition period, and sufficient liquidity in the new denominations.

He said these remain major challenges under current Syrian conditions, alongside the need to mitigate social impacts that could lead to public confusion, market exploitation, and difficulties for less informed segments of society.