Abu Dhabi National Energy Company

Abu Dhabi National Energy Company (TAQA) announced the successful pricing of a US$1.75 billion dual-tranche bond offering, consisting of US$850 million in 12-year green bonds and US$900 million in 7-year conventional bonds. The green bonds, which mature in 2037 with a 4.75% coupon rate, are part of TAQA's Green Finance Framework and will fund eligible green projects. The 7-year bonds, maturing in 2031 with a 4.375% coupon rate, will be used for general corporate purposes. The offering, benefiting from strong investor demand, is expected to be rated Aa3 by Moody's and AA by Fitch and listed on the London Stock Exchange. TAQA has raised US$1.85 billion under its Green Finance Framework since 2023, supporting the growth of its renewable energy portfolio. CEO Jasim Husain Thabet emphasized the bond's role in advancing TAQA's ESG and decarbonization goals while delivering sustainable value to shareholders.

Abu Dhabi Future Energy Company PJSC ("Masdar"), in which Abu Dhabi National Energy Company PJSC ("TAQA") holds a 43% share, has completed the acquisition of a 50% stake in Terra-Gen Power Holdings II, LLC ("Terra-Gen"), a major independent renewable energy producer in the U.S. Terra-Gen's portfolio includes 3.8 GW of wind, solar, and battery storage projects, with 5.1 GWh of energy storage facilities, primarily in California and Texas. Terra-Gen is also developing over 12 GW of new projects. Following the acquisition, Igneo Infrastructure Partners retains its 50% stake, and Energy Capital Partners has exited its position. For more information, visit Masdar's announcement at https://masdar.ae/en/news/newsroom.

Abu Dhabi Future Energy Company PJSC (Masdar), in which Abu Dhabi National Energy Company PJSC (TAQA) holds a 43% share, has signed definitive agreements with Brookfield Renewable and its institutional partners to acquire a 100% stake in Saeta Yield. The deal is valued at approximately AED 4.8 billion (€1.2 billion) with an additional investment of AED 2.8 billion (€696 million). The acquisition includes an operating and regulated portfolio of about 745 MW of onshore wind and solar assets, along with a development pipeline of approximately 1.6 GW across Spain and Portugal. The transaction is expected to close by the end of 2024, pending regulatory and customary approvals. For more information, please refer to Masdar’s full announcement on their website.

Abu Dhabi National Energy Company (TAQA) announced a new unified brand identity for its group of companies, marking a significant transformation and growth milestone. The Abu Dhabi Distribution Company (ADDC) and Al Ain Distribution Company (AADC) will merge to form TAQA Distribution, serving customers across Abu Dhabi. This consolidation aims to enhance customer services, develop new products, and support growth both locally and internationally, while also promoting low-carbon power and water solutions. Additionally, TAQA will rebrand its other subsidiaries: Abu Dhabi Transmission and Despatch Company (TRANSCO) will become TAQA Transmission, Sustainable Water Solutions Holdings (SWS Holdings) will be TAQA Water Solutions, and Abu Dhabi Energy Services (ADES) will be TAQA Energy Services. This restructuring is designed to increase awareness of TAQA's comprehensive utility activities and support its growth ambitions, strengthening its position as a leading utility company in the UAE.

Abu Dhabi National Energy Company (TAQA) has completed its acquisition of Sustainable Water Solutions Holding Company (SWS Holding) for AED 1.7 billion. This acquisition includes Abu Dhabi Sustainable Water Solutions Company (ADSWS), which is responsible for wastewater collection, treatment, and recycled water production in Abu Dhabi. The integration of SWS Holding enhances TAQA’s capabilities in water management and adds significant asset value, contributing to predictable cash flow and earnings. SWS Holding aims to expand internationally, with recent agreements to develop a wastewater treatment plant in Tashkent, Uzbekistan. TAQA’s CEO, Jasim Husain Thabet, highlighted the acquisition’s alignment with TAQA’s net zero strategy and its potential to optimize water production, use, and reuse.

TAQA and JERA have announced the financial closing of the Najim Cogeneration Company Limited, a new industrial steam and electricity cogeneration plant in Jubail, Saudi Arabia. The plant will supply 475 megawatts of power and approximately 452 tonnes per hour of steam using advanced combined cycle gas-fired technology. The project, developed by a special purpose entity owned by TAQA (51%) and JERA (49%), will operate on a 25-year build, own, and operate basis, extendable by five years upon mutual agreement. TAQA and JERA will also handle the plant's operation and maintenance. This financial closing follows a Power and Steam Purchase Agreement signed with SATORP in March 2024. Farid Al Awlaqi, CEO of TAQA’s Generation business, highlighted the milestone as a significant step in TAQA’s growth and efficiency, marking their third generation project in Saudi Arabia.

The Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) held a meeting on 13 August 2024 at the company's headquarters. During the meeting, the Board approved the unaudited financial results for the period ending 30 June 2024 and agreed to distribute an interim cash dividend of 0.70 fils per share, totaling approximately AED 787 million, for the second quarter of the financial year 2024. Key dates related to the dividend are as follows: the last day to participate is 21 August 2024, the ex-dividend date is 22 August 2024, the record date is 23 August 2024, and the payment date is 5 September 2024. The Board also discussed other general matters related to the company's activities and projects and made necessary decisions.

The Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) will hold a meeting at 3 p.m. on Tuesday, 13 August 2024, at the company's headquarters. The agenda includes considering and approving the unaudited financial results for the period ending 30 June 2024, approving the payment of an interim dividend for the second quarter of the financial year 2024 in accordance with the existing dividend policy, and discussing other general matters related to the company's activities and projects. The notice was issued by Mohammad Adnan Sharafi, Secretary to the Board of Directors.