Federal Authority for Nuclear Regulation (FANR): FANR was established in 2009 as the regulatory body for the nuclear sector in the UAE concerning the peaceful uses of Nuclear Energy, which was issued by H.H. Sheikh Khalifa bin Zayed Al Nahyan President of the UAE.
Emirates Nuclear Energy Company (ENEC): ENEC was established in 2009, and is responsible for the design, construction, and ownership of the UAE’s first nuclear energy plant. Its mission includes coordination with the educational sector in the UAE to develop the UAE human resource capacity needed to operate the nuclear energy program. ENEC also serves as the investment arm of the Government of Abu Dhabi, making strategic investments in the nuclear sector, both domestically and internationally. In October 2016, ENEC and KEPCO signed a joint venture agreement including the set-up of Barakah One PJSC, an independent subsidiary owned by both companies to manage the commercial interests of the Barakah project, secure project finance from institutional and commercial leaders and receive funds for the electricity generated at Barakah’s four units. The agreement entitles KEPCO to an 18 percent stake in ENEC’s subsidiary, Nawah.
Nawah Energy Company (Nawah): Nawah was formally established as a subsidiary of the Emirates Nuclear Energy Corporation (ENEC) in 2016 and mandated to operate and maintain the Barakah Nuclear Energy Plant, Nawah is a multinational, multicultural and Emirati-led company.
Despite losing the bid for the Barakah plant to the Korea consortium, U.S. companies have had a high level of involvement in the UAE nuclear energy program. This promises to remain the case for years to come, especially if the UAE builds additional plants. A favourable economic and financial environment, as well as the presence of a 123 Agreement, makes the UAE a highly desirable market for U.S. exports. The main obstacle is heavy foreign competition.