Abu Dhabi National Energy Company (Taqa)
Abu Dhabi National Energy Company (Taqa) News
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If EVs can make it here, they can make it anywhere
The battery powered car is on the up, even in the oil-soaked Gulf
XLinks reaffirms UK is priority for Morocco power project
British renewable power company Xlinks is “100 percent committed to the UK” despite reports suggesting it was refocusing its attention on Germany. Xlinks is overseeing the $22 billion Morocco-UK renewables project, which involves building solar panel and wind farms in the desert of the North African country. Via the installation of high-voltage direct current (HVDC) […]
Masdar to build solar plants for UAE defence ministry
Abu Dhabi’s clean energy giant Masdar and the UAE defence ministry have agreed to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between Masdar and France’s EDF Group, will provide a full turnkey solution for the projects for 25 years, including finance, design, procurement, construction, operations, and maintenance. No other project details were […]
Saudi’s Taqa to quadruple energy investments in Egypt
Saudi Arabia’s Industrialization and Energy Services Company (Taqa) plans to quadruple investments in Egypt’s energy sector over the next two years, according to a media report. The company aims to double its business and services in Egypt, as well as expand into deepwater petroleum services by 2026, Daily News Egypt reported, citing Mario Ruscev, executive […]
DP World and Masdar link up for project to decarbonise ports
Two of the UAE’s biggest companies have formed a partnership that aims to decarbonise ports in the Middle East and Africa. Logistics group DP World has signed a three-year agreement with clean energy giant Masdar. Their initial focus will be on ports in Saudi Arabia, Senegal and Egypt. The companies will identify the best sites […]
Taqa energy company doubles earnings in 2023
Abu Dhabi National Energy Company’s (Taqa) net income more than doubled to AED17 billion ($4.6 billion) in 2023. The higher income was driven by a one-off gain of AED10.8 billion recognised on the acquisition of a five percent shareholding in Adnoc Gas. However, it was offset in part by a one-off AED1.1 billion deferred tax […]
Taqa to sell entire stake in Kurdistan oilfield
Abu Dhabi National Energy Company (Taqa) has agreed to sell its entire stake in the Atrush oilfield in Iraqi Kurdistan to Canada’s ShaMaran Petroleum. Through its subsidiary Taqa International, the company has entered into a definitive agreement with ShaMaran subsidiary General Exploration Partners (GEP), Taqa said in a filing to the Abu Dhabi Securities Exchange […]
Market cap of top 16 UAE-listed companies hit $591bln
The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data. The top 16 listed companies accounted for […]
Gulf’s ESG uptake hindered by lack of expertise
The Gulf has seen a rise in green bonds and funds, but awareness of environmental, social and corporate governance (ESG) reporting and the infrastructure to carry it out is lagging the rest of the world, a leading industry expert says. A survey from the consultancy PwC Middle East revealed that 64 percent of respondents in […]
Taqa-led consortium to build $408m Saudi water project
A consortium led by the Abu Dhabi National Energy Company (Taqa) has won a contract from state-run Saudi Water Partnership Company (SWPC) to develop the AED 1.5 billion ($408.44 million) Juranah independent strategic water reservoir project in Makkah. The consortium includes Vision International Investment Company (Vision Invest) and Gulf Investment Corporation (GIC), Taqa said in […]