Skip to content Skip to Search
Skip navigation

Abu Dhabi’s Taqa to buy local water firm for $463m

By Pramod Kumar
Abu Dhabi's Taqa will lead the operation and maintenance of Saudi Arabia's Juranah water reservoir project in Makkah Wam
Abu Dhabi's Taqa will lead the operation and maintenance of Saudi Arabia's Juranah water reservoir project in Makkah
  • Deal sees Taqa acquire SWS Holding’s outstanding shares
  • Efficient water management key to reducing emissions says CEO

Abu Dhabi National Energy Company (Taqa) has signed an agreement to buy UAE-based Sustainable Water Solutions Holding Company (SWS Holding) for AED1.7 billion ($462.91 million).

Launched in May, SWS Holding took ownership of Abu Dhabi Sustainable Water Solutions Company (ADSWS), the entity behind the emirate’s wastewater collection, treatment and reuse.

As part of the deal, Taqa will acquire all outstanding shares of SWS Holding, with 50 percent of the consideration paid upon completion and the remaining 50 percent paid one year after completion.

Taqa will make an additional payment in 2024 linked to net profits generated during 2023, the Abu Dhabi stock exchange-listed firm said in a statement.

Jasim Husain Thabet, Taqa’s group CEO and managing director, said the efficient management of water will play a key role in enabling the UAE to reduce greenhouse gas emissions.

“By bringing the management of recycled water together with Taqa’s water desalination activity and our recycled water network, we can do even more to support the net zero target by 2050,” he said.

SWS Holding will add approximately AED16 billion to Taqa’s existing regulated asset value of AED75 billion, securing cash flow and long-term earnings for the Abu Dhabi energy firm.

ADSWS will operate under and benefit from the same regulatory controls set by the Abu Dhabi Department of Energy that govern Taqa’s existing UAE transmission and distribution businesses.

ADSWS has a network of sewer pipelines extending to over 12,000 km and has a sewage treatment capacity of approximately 1.3 million cubic metres per day from its 37 treatment plants. In addition, it holds a 60 percent stake in two companies that own four plants in the emirate.

The transaction is expected to complete this year.

Taqa is owned 90.03 percent by Abu Dhabi Power Corporation (ADPower) and 7.30 percent by Multiply Group.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]