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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) is set to invest AED52 billion in large-scale power and water projects in Morocco. This investment includes acquiring an existing 400 megawatt combined cycle gas turbine power plant, developing a new 1,100 megawatt greenfield plant and implementing renewable energy projects with a total capacity of 1,200 megawatts. These projects aim to enhance water security with a seawater desalination capacity of 2.5 million cubic metres per day and a water transmission network capable of 2.2 million cubic metres per day1.

The company's subsidiary Taqa Transmission gained a foothold in the UK energy market by acquiring Transmission Investment, a company with assets under management worth AED15 billion. This strategic acquisition expands Taqa's access to the European electricity transmission sector3.

Masdar, controlled by Taqa, significantly expanded its renewable energy footprint. It invested AED30 billion in equity last year and secured AED16.5 billion in project financing. Masdar's renewable energy portfolio now spans more than 40 countries, targeting 100 gigawatts by 20302.

Saudi Arabia and the UAE are advancing plans to boost electricity exports. These plans are supported by investments in solar and wind capacities. Taqa has invested in projects such as Xlinks, which aims to connect Moroccan renewable power to the UK grid5.

Masdar, also controlled by Taqa, is close to acquiring a minority stake in a solar power portfolio in Spain. This acquisition demonstrates the group's strategy to expand its European renewable energy footprint4.

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

'There has never been a better time to invest in fixed income' such as Gulf GRE debt says one analyst

Why government-related debt is worth a punt

Debt sales by government-related entities (GRE) in the Gulf, such as Saudi Electricity Co and Abu Dhabi’s Mubadala Investment Co, offer better investor value than their sovereigns, experts say. Gulf foreign currency sales of conventional and sukuk (sharia-compliant bonds) rose 9 percent to $72.4 billion in the five months to May 31, compared with the […]

Masdar's Gemasolar project in Spain. The company is aiming to fund expansion through bond issuances

Masdar to increase bond issuances to fund renewables push

Masdar, the UAE’s state-owned clean energy developer, is to increase its presence in international debt markets as it accelerates plans to install 100 gigawatts of renewable energy capacity by the end of the decade. Abu Dhabi’s Masdar raised $1 billion in a green bond sale last month, following previous issuances of $750 million in 2023 […]

Wind turbines in the Sinai Peninsula, Egypt. Solar, wind and hydropower make up only 11.5% of Egypt's electricity generation

Egypt awards renewable energy projects worth $400m

Egypt has approved four new private sector-backed renewables projects to help achieve its 2030 green energy target. The solar and wind energy projects are expected to generate 400 megawatts (MW) and are being built for $388 million, according to local media reports, which quoted a ministry statement. The companies involved are Neptune for Electricity Production […]

The World Utilities Congress in Abu Dhabi. Taqa CEO Jasim Husain Thabet said the company wants to acquire 'fully integrated' companies

Abu Dhabi’s Taqa focuses on US market

Abu Dhabi National Energy Company, or Taqa, is exploring buying companies in the US and elsewhere, its chief executive told Reuters. The state-owned utility is continuing its international expansion and is striving to reach ambitious growth targets. “The US is a key market for us,” and “if the right opportunity presents itself for Taqa, we […]

Tarik Hamane, director general of ONEE, left, and Christiane Laibach, executive board member of KfW, sign the loan agreement

Morocco state company gets $340m for energy transition

Moroccan state-run utility company ONEE has secured €300 million ($340 million) in funding from the European Investment Bank (EIB) and German bank KfW to support renewable energy integration into the national grid. The financing package comprises €170 million from the EIB and €130 million from KfW. The fund will also be used to expand the national […]

Taqa Morocco and local partners have agreed to invest $14bn to support energy and water security

Taqa to invest in Morocco’s energy and water security

The Casablanca-listed subsidiary of Abu Dhabi’s Taqa has agreed to develop multi-billion-dollar large-scale power and water projects in Morocco along with local partners, according to a statement. Taqa Morocco Group, Nareva, a wholly-owned subsidiary of Morocco’s Al Mada Group, and the sovereign Mohammed VI Investment Fund signed agreements with the Moroccan government and the Office National de […]

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, […]