Press releases, Reports & Disclosures for Abu Dhabi National Energy Company

The text contains the review report and interim condensed consolidated financial statements of the Abu Dhabi National Energy Company PJSC for the nine-month period ending on 30th September 2023. These financial statements are unaudited.

The Abu Dhabi National Energy Company (TAQA) reported a net income of AED 15 billion for the first nine months of 2023 and announced revised growth targets for 2030. The company plans to increase its gross power capacity to 150 GW and its water generation capacity to 1,300 million imperial gallons per day. The investment plan includes an AED 75 billion investment into power and water capacity expansion and UAE-based transmission and distribution networks by 2030. The board declared an interim dividend payment of 0.65 fils per share, approximately AED 731 million. The company also aims to increase the share of renewables in its portfolio by 2030, targeting 65% of its generation capacity from renewable power sources.

The Abu Dhabi National Energy Company PJSC (TAQA) has announced that its Board of Directors will hold a meeting on Friday, 10 November 2023. The meeting will take place at 3 p.m. at the company's headquarters in Al Maqam Tower, Abu Dhabi. The agenda includes the approval of the unaudited financial results for the period ending on 30 September 2023, the approval of an interim dividend payment for Q3 2023, and discussions on other general matters related to the company's activities and projects. The announcement was made by Mohammad Adnan Sharafi, the Secretary to the Board of Directors.