Happy Sunday everyone!

The UAE is making bold moves across energy, AI, and renewables. Adnoc is exploring its first U.S. gas field acquisition, expanding its global footprint in energy. Meanwhile, Dewa is seeking partners for the 1,600 MW seventh phase of its solar park, reinforcing Dubai’s clean energy leadership. In tech, Adnoc and Presight AI are reviving plans for an AIQ IPO, tapping into the booming AI sector.

Read on for more.

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UAE’s Adnoc Eyes First U.S. Gas Fields Amid Expansion Push

📰 What is it about?

• Abu Dhabi National Oil Co. (Adnoc) is exploring its first acquisition of U.S. natural gas-producing fields.

• The move would complement its recent investments in U.S. chemical plants and LNG export facilities.

• Adnoc CEO Sultan Al Jaber is expected to discuss the company’s U.S. investment strategy at CERAWeek in Houston.

• He will then visit Washington, D.C. for meetings related to Adnoc and his role as UAE’s minister of industry and advanced technology.

💡 Why it matters?

• The UAE’s investment aligns with U.S. President Donald Trump’s push to attract foreign investment and boost energy production.

• Adnoc’s expansion into U.S. gas fields would secure fuel and feedstock for its chemical and LNG ventures.

• The deal could help hedge Adnoc’s exposure to fluctuating gas prices.

• Adnoc has been a major global energy investor, with recent U.S. deals including stakes in LNG and hydrogen projects.

🔜 What’s next?

• It remains unclear if Adnoc has identified a specific target or will make an offer.

• The U.S. shale market has seen a slowdown in dealmaking, but Adnoc’s interest may signal renewed activity.

• Adnoc’s new entity, XRG, will take over U.S. investments as part of a broader $80 billion international gas and chemicals strategy.

• Future deals could further strengthen UAE-U.S. economic ties, particularly in energy and technology.

Yango Ads' "Revenue Revolution" in Dubai Empowers App Developers to Maximize Ad Revenue

Yango Ads App Monetization hosted the "Revenue Revolution" event in Dubai on February 20th, uniting app developers and industry leaders to enhance ad revenue. Among other respectful guests were representatives from YallaPlay, Shorooq Partners, Department of Culture and Tourism and MMA MENA who shared their expertise during the panel “Shaping the gaming ecosystem in MENA”. 

At the event, Abdullah Homsi, Regional Supply Manager MEAIP at App Monetization, shared that 43% of publishers struggle with complex setups and paperwork. App Monetization simplifies this by managing ad unit creation and all the setups, providing access to 15 networks and over 200 DSPs. 

Increase your income with Yango Ads App Monetization.

Markets

Dewa Seeks Developers for 1,600 MW Solar Park Expansion

📰 What is it about?

• Dubai Electricity and Water Authority (Dewa) is inviting global companies to develop the 1,600 MW seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park.

• The phase could be expanded to 2,000 MW, enough to power 1.6 million homes.

• It will incorporate photovoltaic solar panels and a 1,000 MW battery energy storage system, providing 6,000 MWh of storage.

• The project will follow the independent power producer (IPP) model, with expressions of interest due by March 21.

💡 Why it matters?

• The seventh phase will be one of the world’s largest solar-plus-storage projects.

• It will produce 4.5 terawatt-hours of electricity annually, reducing reliance on natural gas by over 36 billion cubic feet.

• Dubai’s clean energy share will rise from 27% to 34% by 2030.

• The solar park’s capacity will grow to 7,260 MW, reinforcing Dubai’s position as a renewable energy leader.

🔜 What’s next?

• The seventh phase is expected to roll out in stages between 2027 and 2029.

• Dewa is also developing the 1,800 MW sixth phase, set for completion in 2026.

• Total investment in the solar park is projected to reach AED50 billion ($13.6 billion).

• Dubai aims to further accelerate its transition to clean energy with continued large-scale investments.

Adnoc, Presight AI Revive IPO Plans for AIQ Joint Venture

What is happening?

• Abu Dhabi National Oil Co. (Adnoc) and Presight AI Holding Plc are reconsidering an IPO for their AI joint venture, AIQ.

• Investment banks have been invited to pitch for roles in the potential listing.

• AIQ was valued at $1.4 billion in May 2024 when Presight acquired a majority stake.

• No final decision has been made on the timing or size of the offering.

Why it matters:

• AIQ’s IPO would ride the global wave of AI investment, boosting Abu Dhabi’s push to become an AI leader.

• The company collaborates with Microsoft and G42 on AI-driven energy efficiency solutions.

• Adnoc, AIQ’s main customer, aims to use its technology to accelerate seismic surveys and optimize drilling.

• Abu Dhabi firms are increasingly favoring U.S. tech over Chinese components to strengthen global partnerships.

What’s next?

• AIQ’s listing could take place as soon as this year, subject to market conditions.

• Abu Dhabi’s IPO market remains strong, with AIQ potentially adding to a $6 billion wave of recent listings.

• Other major IPOs in the pipeline include ADQ’s listing of Etihad Airways and IHC’s $27 billion unit offering.

• Neighboring Dubai is also gearing up for new property-related listings to capitalize on its booming real estate sector.

🔍In other news…

• Saudi Arabia submits Expo 2030 registration dossier.

• Dubai’s parking operators are making a fortune from fines.

• Mawani, DP World Expand Jeddah Islamic Port.

The Latest from the Smashi Business Studio

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