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Abu Dhabi National Energy Company (Taqa)

Energy

Latest Abu Dhabi National Energy Company (Taqa) DevelopmentsAI Insights

Abu Dhabi National Energy Company (Taqa) reported a 60 percent rise in capital expenditure during 2024, attributing the increase to new projects like Mirfa 2 and Shuweihat 4 reverse osmosis desalination facilities in the UAE. Net income reached AED7 billion and revenues grew by 6.7 percent to AED55.2 billion. Taqa proposed a final cash dividend of 2.1 fils per share for the year. 2

Taqa acquired Transmission Investment (TI), providing access to the European market. TI will integrate into Taqa Transmission, which manages high-voltage power and water transmission infrastructure. This acquisition will bolster Taqa's presence in the UK electricity transmission sector and expand its reach globally. 4

Taqa's strategic international growth includes taking minority stakes in energy companies, like its moves to bid for a stake in Spanish utility Naturgy and its initiatives in Germany through Uniper. This international expansion aligns with projects like the Juranah independent water reservoir in Saudi Arabia, which aims to enhance water transmission. 3

Taqa part owns Masdar, and the two companies collaborate with other entities including Adnoc and Mubadala. Masdar achieved a 51 gigawatt capacity by the end of 2024 alongside its focus on solar, wind and battery storage projects. These initiatives contribute to Taqa's strategic objectives within the UAE. 1

Taqa's expansion strategy through Masdar involves partnerships and stakes in renewable projects across Europe, such as its investment in Saeta Yield from Brookfield and interests in Endesa's solar portfolio. Masdar also aims to boost operations with targeted investments in global solar markets. 5

Abu Dhabi National Energy Company (Taqa) Overview

The Abu Dhabi National Energy Company – Taqa – provides power generation and water desalination. The company currently operates in 11 countries across four continents.

Taqa’s origins lie in Abu Dhabi’s 1998 government initiative, which sought to privatise the emirate’s water and electricity sector with the establishment of the Abu Dhabi Water and Electricity Authority (Adwea).

Taqa was founded in June 2005 as a public joint stock company, with Adwea holding 51% of the company. It part owns the UAE green energy company Masdar.

In July 2020 Taqa and Abu Dhabi Power Corporation (ADPower) announced the successful completion of their merger. Under the deal, ADPower transferred the majority of its power and water generation, transmission and distribution assets to Taqa in exchange for over 100 billion new shares.

With total assets estimated at around AED200 billion ($54 billion) Taqa is the third largest listed company in the UAE and one of the top 10 utilities companies in Europe, the Middle East and Africa.

Revenues reached AED27 billion in the first half of 2024, up two percent on the same period in the previous year, due to the contribution from Abu Dhabi’s Sustainable Water Solutions Holding Company, which was acquired in June 2023.

Taqa has operations in Canada, Ghana, India, Morocco, Netherlands, Oman, Saudi Arabia, the UK and US as well as the UAE.

Abu Dhabi National Energy Company (Taqa) News

Revenues of the oil and gas segment were down 26 percent annually to AED1.5 billion

Taqa profit falls as oil and gas earnings take a hit

Abu Dhabi National Energy Company (Taqa) said earnings fell in the first quarter of 2025 amid commodity market volatility and a fall in oil and gas production. Net profit declined by 1.5 percent year on year to AED2 billion ($572 million) in the quarter ended March 31, 2025, the company said in a statement to the […]

Shams Solar Power Station in the UAE. Both the UAE and Saudi Araba are aiming to increase electricity exports as their share of renewable energy grows

UAE and Saudi Arabia target India and EU electricity exports

Saudi Arabia and the UAE are advancing plans to increase their electricity exports, taking advantage of spare generating capacity after surging investment in solar and wind power and seasonal fluctuation in demand. “The UAE, with around 50 percent spare capacity generation, is among the best-positioned countries to become an exporter of electricity,” Adnan Al Hosani, […]

Bahrain's alternative investment manager, Investcorp, is among the potential suitors for PAL Cooling Holding

More suitors vie for Abu Dhabi’s district cooling business

KKR and I Squared Capital are among global asset managers bidding for a district cooling business owned by Abu Dhabi’s Multiply Group, part of a $1.5 trillion empire overseen by one of the UAE’s most powerful sheikhs. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have […]

Founded in 2009, TI has AED15 billion of assets under management through its existing portfolio of 11 operating offshore transmission assets

Abu Dhabi’s Taqa buys UK’s Transmission Investment

Abu Dhabi National Energy Company (Taqa) has fully acquired Transmission Investment (TI), a UK-based energy and utility investment company, giving the UAE company access to the European market. TI is one of the largest players in transmission systems, which connect offshore wind farms to the UK grid. The UK company will become part of Taqa Transmission, […]

Wind turbines in Pastra, Greece. Masdar has been investing in the country and elsewhere in Europe

Masdar IPO could help accelerate Gulf’s energy transition

An initial public offering by Abu Dhabi’s Masdar could mark a pivotal moment in the move towards cleaner sources of power in not only the world’s largest oil-producing region, but also in Europe, industry observers say. Masdar, more officially known as the Abu Dhabi Future Energy Co, is considering an IPO next year to fund […]

One solar panel in North Africa generates two to three times the amount of power that one does in Europe

Plans to bring African energy to Europe face big challenges

At least five multi-billion dollar projects to bring up to 24 gigawatts of solar and wind power energy from sunny North Africa to chilly Europe, assisted by Gulf investment money, are currently being planned. But these ambitious schemes to reduce Europe’s reliance on fossil fuels generally, and energy supplies from Russia specifically, all face major […]

Masdar said it "has no current plans to go public", adding it did not comment on "market speculation"

Masdar weighs IPO on Abu Dhabi stock exchange

Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […]

Taqa chairman Mohamed Hassan Alsuwaidi recently met with Spain's Criteria to discuss a potential Naturgy stake purchase deal

Taqa in talks to buy stake in Spanish utility Naturgy

Abu Dhabi National Energy Company (Taqa) is reportedly in talks with Spanish private equity group CriteriaCaixa to acquire a stake in Naturgy Energy Group. Taqa chairman Mohamed Hassan Alsuwaidi recently met with an unnamed Criteria executive to discuss a potential deal, Bloomberg reported. Criteria, which holds 26.7 percent of €24 billion ($26 billion) Naturgy, has […]

In 2024, Masdar completed acquisitions in Greece, Spain and the US

UAE’s Masdar expands renewable energy footprint

Abu Dhabi renewable energy company Masdar invested nearly AED30 billion ($8.2 billion) in equity last year and secured more than AED16.5 billion in project financing across nine countries. The company, which is targeting a renewable energy portfolio capacity of 100 gigawatts by 2030, has developed and partnered in projects in more than 40 countries, the […]

The proposed deal for the 450MW portfolio will further expand Masdar's operations in Spain

Masdar in talks on $200m solar power deal in Spain

Abu Dhabi renewable energy company Masdar is nearing a deal that would see it pay around $200 million for a 49.9 percent stake in a solar portfolio controlled by Spanish power utility Endesa, according to two sources familiar with the deal and a document seen by Reuters. The deal for the roughly 450-megawatt portfolio builds […]

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