UAE’s utility giant Abu Dhabi National Energy Company (TAQA) has announced the full acquisition of SWS Holding following a deal worth AED 1.7 billion ($463 million), according to a press statement by the company. The acquisition will create a vertically integrated player with strong water treatment capabilities and a commitment to operational efficiency and customer […]
TAQA
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Veolia secures $324 million EPC contract for Abu Dhabi’s Mirfa 2 project
Veolia‘s subsidiary, SIDEM, is leading a consortium that has secured an engineering, procurement and construction (EPC) contract for the Mirfa 2 desalination project in Abu Dhabi. The deal, commissioned by TAQA and ENGIE, is worth nearly $324 million in revenue for Veolia, according to a press statement from the company. The construction of the state-of-the-art […]
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ENGIE, TAQA achieve $620 million financial close for massive UAE desalination project
UAE’s TAQA, EWEC, alongside France’s ENGIE, have announced the successful financial closing of the AED 2.3 billion ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. The project is primarily funded (78%) through debt financing from both local and international banks, including Abu Dhabi Islamic Bank (ADIB), BNP Paribas Fortis SA/NV, Sumitomo […]
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ADNOC, TAQA award $2.4 billion massive water project
ADNOC and TAQA have awarded a strategic investment project worth up to $2.4 billion for a major desalination plant to support ADNOC’s onshore operations, a press statement has revealed. The project entails the development of a state-of-the-art seawater treatment facility and a transportation network that will serve the Bab and Bu Hasa fields in Abu […]
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UAE’s TAQA eyes $3 billion power infrastructure deals in Uzbekistan
TAQA is exploring strategic power investments opportunities in Uzbekistan that collectively could be worth more than $3 billion. These opportunities include new and existing power plants as well as associated power infrastructure. This follows a collaboration agreement between TAQA and the government of Uzbekistan to identify areas of mutual interest. TAQA, also known Abu Dhabi National Energy Co, […]
Posted inEnergy Transition
TAQA signs agreement to establish Riyadh-based geothermal venture
PIF-backed Industrialisation and Energy Services Co (TAQA)Â has signed a joint venture agreement with Reykjavik Geothermal to establish TAQA Geothermal Energy LLC, headquartered in Riyadh, Saudi Arabia. TAQA Geothermal will explore and develop geothermal resources in Saudi Arabia and the MENA region contributing to Saudi and Middle East Green Initiatives’ decarbonisation targets. TAQA said in […]
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Saudi Arabia’s TAQA closes acquisition of Al Mansoori Petroleum Services
The Industrialization and Energy Service Company (TAQA) announced today the closure of its 100% acquisition of Al Mansoori Petroleum Services, expanding TAQA’s Well Solutions business internationally. In September 2022, TAQA said Al Mansoori would add complementary products and services to TAQA’s portfolio, including early production facilities, well testing, slickline, marine stimulation vessels, multi-purpose service vessels, […]
Posted inEnergy Transition
ADNOC, TAQA, Mubadala complete Masdar stake deal
Abu Dhabi National Energy Co (TAQA) has paid $1.02 billion in cash for its stake in Abu Dhabi Future Energy Company (Masdar), following an agreement to become Masdar’s shareholder alongside ADNOC and Mubadala Investment Co. TAQA said in a statement on Thursday that the transaction, which sets out to create a global clean energy powerhouse, […]
Posted inNews, Energy Transition, Partnership
TAQA and ADNOC enter into binding agreements to purchase stakes in Masdar from Mubadala
The binding agreements will see TAQA acquire a 43% controlling stake in Masdar’s renewables business with Mubadala retaining a 33% interest, and ADNOC owning the remaining 24% interest