Abu Dhabi National Energy Company

Abu Dhabi Future Energy Company PJSC, known as Masdar, has completed the acquisition of 70% of the outstanding shares in TERNA ENERGY SA from GEK TERNA SA and other shareholders. The acquisition, priced at 20 euros per share, values TERNA ENERGY SA at an enterprise value of 3.2 billion euros. Masdar, in which Abu Dhabi National Energy Company PJSC (TAQA) holds a 43% share, has obtained all necessary regulatory approvals. Following the transaction, Masdar plans to seek further regulatory approvals for a mandatory tender offer to acquire the remaining shares of TERNA ENERGY SA. TERNA ENERGY SA currently has an operating capacity of 1.2 gigawatts and aims to expand to 6 gigawatts by 2029.

TAQA, JERA, and Al Bawani have formed a consortium to develop two new combined cycle gas power plants in Saudi Arabia, named Rumah 2 IPP and Al Nairyah 2 IPP. Each plant will have a generation capacity of 1.8 GW, totaling 3.6 GW. The consortium has signed two 25-year Power Purchase Agreements with the Saudi Power Procurement Company. The plants will use advanced gas turbine technology and support carbon capture, aligning with Saudi Arabia's energy goals of a balanced energy mix and the Saudi Green Initiative for net-zero emissions by 2060.

The Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) held a meeting on Wednesday, 13 November 2024, at the company's headquarters. During the meeting, the Board approved the unaudited financial results for the period ending 30 September 2024. They also approved an interim cash dividend of 0.70 fils per share, totaling approximately AED 787 million, for the third quarter of 2024. Key dates related to the dividend are: last day to participate - 21 November 2024, ex-dividend date - 22 November 2024, record date - 25 November 2024, and payment date - 11 December 2024. Additionally, the Board discussed general matters concerning the company's activities and projects and made necessary decisions. The notification was signed by Mohammad Adnan Sharafi, Secretary to the Board.

The Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) held a meeting on 13 November 2024 at the company's headquarters. During the meeting, the board approved the unaudited financial results for the period ending 30 September 2024 and authorized the payment of an interim cash dividend of 0.70 fils per share, amounting to approximately AED 787 million, for the third quarter of the financial year 2024. The key dates for the dividend are as follows: the last day to participate is 20 November 2024, the ex-dividend date is 21 November 2024, the record date is 22 November 2024, and the payment date is 11 December 2024. The board also discussed other general matters related to the company's activities and projects, taking necessary decisions on these issues.

TAQA Group reported a net income of AED 6.3 billion for the first nine months of 2024, marking a 13.2% increase from the previous year when excluding one-off items. The group's revenue rose by 6.0% to AED 41.7 billion, and EBITDA increased by 9.0% to AED 16.9 billion, excluding the impact of a significant acquisition. Including one-off items, EBITDA and net income saw declines due to the acquisition of a stake in ADNOC Gas and a deferred tax charge. Capital expenditure surged by 85.4% to AED 6.1 billion, driven by progress in desalination projects and the inclusion of TAQA Water Solutions. Free cash flow was AED 2.9 billion, significantly lower than the previous year due to increased investments. Gross debt decreased slightly to AED 60.6 billion, despite new debt for projects and acquisitions. Additionally, TAQA merged its Abu Dhabi distribution businesses under the new brand TAQA Distribution to enhance operational efficiency and growth.

The Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) will hold a meeting at 3 p.m. on Wednesday, 13 November 2024, at the company's headquarters. The agenda includes reviewing and approving the unaudited financial results for the period ending 30 September 2024, approving the payment of an interim dividend for the third quarter of 2024 in accordance with the current shareholder-approved dividend policy, and discussing other general matters related to the company's activities and projects. The notice is addressed to Mr. Hamad A. Al Ali, Acting Head of Listed Companies Affairs at the Abu Dhabi Securities Exchange, and is signed by Mohammad Adnan Sharafi, Secretary to the Board of Directors.

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.