Business
Sustainability and new growth fuels TAQA’S steady growth
Sustainability and new growth fuels TAQA’S steady growth
About this update from Taqa Arabia
First published: 10-Mar-2025 12:55:15Abu Dhabi National Energy Company PJSC, or TAQA, is an integrated utilities firm headquartered in the UAE capital and with operations across 25 countries covering Europe, the Middle East, and Africa.TAQA has invested in power and water generation, water treatment and reuse, transmission and distribution assets, in addition to upstream and midstream oil and gas operations. Its assets are in the UAE, Canada, Ghana, India, Morocco, Oman, the Netherlands, Saudi Arabia, the United Kingdom, and the United States.It also holds exclusive rights to transmission and distribution (T&D) ventures in Abu Dhabi, maintaining a minimum 40% stake in all Emirates Water and Electricity Company (EWEC) generation projects until 2030.Click here to download infographicStrategic Growth DriversTAQA has revised its growth targets following the successful integration of Abu Dhabi-based Masdar’s renewable energy business.In 2022, TAQA oversaw Masdar’s renewable business with a 43% shareholding, with Mubadala retaining 33%, and ADNOC holding 24%. Masdar operates in more than 40 countries and has developed and invested in projects with a combined value of over USD 20 billion. The partnership sets out to position Masdar as a global clean energy powerhouse, consolidating the renewable energy and green hydrogen efforts of TAQA, Mubadala, and ADNOC under a refreshed single Masdar brand. TAQA paid USD 1.02 billion in cash for its stake.To expand its overall operations, TAQA has outlined plans to deploy AED 75 billion in capital expenditure and investments by 2030 to achieve its announced targets. This includes expanding power and water capacity, as well as the previously committed AED 40 billion allocated for regulated T&D assets between 2021 and 2030. More than 80% of this total investment will be directed toward energy transition activities, with AED 50 billion qualifying for sustainable finance under the European Union (EU) taxonomy.TAQA continues to expand its T&D business beyond the UAE through both organic growth and acquisitions. In addition, the company is establishing new growth targets for water generation capacity, aiming for two-thirds of its total water generation to rely on highly efficient reverse osmosis (RO) technology by 2030.In its oil and gas operations, TAQA is sustaining production capacity in Canada while gradually decommissioning ...