TAQA Acquires GS Inima to Enhance Position as Global Low-Carbon Power & Water Leader

TAQA, a leading international utility company, has signed an agreement to acquire GS Inima, a global leader in water treatment and water desalination, for approximately USD 1.2 billion. The acquisition marks a pivotal step in TAQA's strategy to establish a world-class, integrated global water platform, expanding its presence in ten countries and adding 171 MIGD of desalination capacity to its portfolio.

Key Takeaways:

• TAQA's acquisition of GS Inima will significantly accelerate its international water growth strategy and establish it as a leading international utility company.
• The acquisition will add 171 million imperial gallons per day (MIGD) of desalination capacity to TAQA's 1,250 MIGD portfolio, advancing its goal to source two-thirds of its water desalination capacity from energy-efficient reverse osmosis (RO) technology by 2030.
• GS Inima's integrated offering across the water value chain will contribute an additional 1.2 million cubic meters per day (264 MIGD) of drinking water capacity and 2.6 million cubic meters per day (572 MIGD) of wastewater and industrial water treatment capacity to TAQA's global water platform.
• The acquisition will also add a water management business serving 1.3 million inhabitants, reinforcing TAQA's position as a global low-carbon water leader.
• GS Inima's 2024 EBITDA of EUR 106 million on EUR 389 million in revenue reflects the quality and scale of its earnings, which TAQA expects to add to its portfolio.
• The majority of GS Inima's portfolio operates under long-term concession agreements that include inflation-adjustment mechanisms, offering stable and predictable cash flows.

Statistics:

• USD 1.2 billion: Value of the acquisition
• 171 MIGD: Desalination capacity added to TAQA's portfolio
• 1,250 MIGD: Total desalination capacity in TAQA's portfolio
• 1.2 million cubic meters per day: Additional drinking water capacity added to TAQA's global water platform
• 264 MIGD: Additional drinking water capacity in terms of MIGD
• 2.6 million cubic meters per day: Additional wastewater and industrial water treatment capacity added to TAQA's global water platform
• 572 MIGD: Additional wastewater and industrial water treatment capacity in terms of MIGD
• 1.3 million: Number of inhabitants served by GS Inima's water management business
• 2024: Year in which GS Inima generated EBITDA of EUR 106 million on EUR 389 million in revenue
• EUR 106 million: GS Inima's 2024 EBITDA
• EUR 389 million: GS Inima's 2024 revenue
• 10 countries: Number of countries in which GS Inima operates

Sources:

• Abu Dhabi National Energy Company PJSC (TAQA)
• GS Engineering & Construction
• GS Inima
• mid-east.info