Prime Highlights
- Taqa’s first-half net income rose 9.7% to AED 4.1 billion.
- Capital spending jumped 38% to AED 7.2 billion as Taqa expanded infrastructure investment.
Key Facts
- Taqa is Abu Dhabi’s integrated utilities and energy company.
- Its Taweelah C project will have 2.6 GW of power generation capacity.
Background
Abu Dhabi National Energy Company (Taqa) reported higher revenue and profit in the first half of 2026. Stronger performance in its power and transmission businesses supported the growth. The company also increased investment in infrastructure projects.
Meanwhile, revenue hit AED 27.5 billion ($7.5 billion) in the first half of 2018, while EBITDA increased 7.7% to AED 11 billion from AED 10.2 billion during the same period a year ago. Net income for Taqa’s shareholders rose by 9.7% to AED 4.1 billion (AED 3.7 billion).
Capital expenditure rose by 38% to AED 7.2 billion for Taqa due to a boost in investment in its power, water and transmission projects. Increased expenditure resulted in a decrease in the free cash flow to AED 4.6 billion from AED 7 billion in the previous year.
The company’s utilities businesses helped with the earnings growth and provided the company with the financial resources to invest in power and water infrastructure in the UAE and abroad, said the CEO of the company, Jasim Husain Thabet.
In the first half, the Emirates Water and Electricity Company (EWEC) gave the 2.6 GW Taweelah C power project to a consortium led by Taqa with a 60% stake. The project will help stabilize the grid and integrate renewable energy into Abu Dhabi.
Taqa also inked a 27-year utilities contract with Adnoc for the Ta’ziz Industrial Chemicals Zone in Ruwais.
Taqa Water Solutions and partners signed an agreement with the Ras Al Khaimah government for the development of the emirate’s biggest wastewater treatment plant, in the field of water infrastructure. It will treat 60,000m3 of wastewater per day and supply up to 300,000 people.
In addition, Taqa participated in an $870.75m green bond with its partners to refinance the Al Dhafra Solar PV project.
