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

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.

Abu Dhabi National Energy Company PJSC (TAQA), through its wholly owned subsidiary TAQA International BV, has completed the sale of its 47.4% interest in the Atrush oil field located in the Kurdistan Region of Iraq to General Exploration Partners. This information was disclosed to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange. The announcement was made by Mohammad Adnan Sharafi, the Board Secretary.

Abu Dhabi Future Energy Company PJSC (Masdar), in which Abu Dhabi National Energy Company PJSC (TAQA) holds a 43% share, has announced an agreement with Spanish company Endesa S.A. for Masdar to acquire a 49.9% stake in Endesa’s operational photovoltaic (PV) assets in Spain. The portfolio includes 48 PV facilities with a total installed capacity of around 2 GW and potential battery energy storage system (BESS) hybridization up to 0.5 GW. Masdar will invest €817 million (AED 3.2 billion) in this transaction, expected to close by the end of 2024, pending regulatory and customary approvals. For more details, refer to Masdar’s full announcement on their website.

Abu Dhabi Future Energy Company PJSC ("Masdar"), a leading clean energy company in the UAE, in which Abu Dhabi National Energy Company PJSC ("TAQA") holds a 43% share, has announced a definitive agreement to acquire a controlling stake in Terna Energy SA (TENERGY.AT) from GEK Terna Holdings SA (GEKTERNA.AT) and other shareholders. This acquisition is subject to regulatory approvals and other conditions. The information was disclosed in a letter addressed to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange, signed by Mohammad Adnan Sharafi, Board Secretary.

Abu Dhabi National Energy Company PJSC (TAQA) announced that discussions regarding a potential cooperation agreement with Criteria Caixa and the possible acquisition of shares in Naturgy Energy Group, S.A. from CVC and GIP have ended without a transaction taking place. This follows a previous statement made on April 17, 2024. The announcement was addressed to the Disclosures and Compliance Section of the Market Operations Surveillance Department at the Abu Dhabi Securities Exchange. The communication was signed by Mohammad Adnan Sharafi, Board Secretary.

The Board of Directors of the Abu Dhabi National Energy Company PJSC (TAQA) held a meeting on 14 May 2024, at the company's headquarters. The Board approved the unaudited financial results for the period ending 31 March 2024. They also approved the payment of an interim cash dividend of 0.70 fils per share for the first quarter of the financial year 2024. The last day to participate is 22 May 2024, the ex-dividend date is 23 May 2024, the record date is 24 May 2024, and the payment date is 6 June 2024. The Board also discussed general matters concerning the company's activities and projects. The information was communicated by Mohammad Adnan Sharafi, the Board Secretary.