TAQA Diversifies Its Energy Portfolio with Significant Divestment and Strategic Growth Investments

Strategic Insights -

The Abu Dhabi National Energy Company (TAQA) has divested its 100% stake in TAQA Neyveli Power Company Private Limited to MEIL Energy Private Limited for a sale consideration of approximately $104.65 million. This transaction marks TAQA's exit from lignite-fired power generation and aligns with its focus on low-carbon, highly flexible gas-fired power generation and renewable energy investments. As part of its long-term strategy, TAQA has made significant investments in developing leading low-carbon power and water projects across the UAE, Morocco, and Saudi Arabia.

Key Takeaways:

  • TAQA has divested its 100% stake in TAQA Neyveli Power Company Private Limited, a 250 MW lignite-fired power plant in Tamil Nadu, India, to MEIL Energy Private Limited for INR9.26 billion ($104.65 million).
  • The transaction marks TAQA's exit from lignite-fired power generation, reflecting the company's shift towards low-carbon, flexible gas-fired power generation and renewable energy investments.
  • Farid Al Awlaqi, CEO of TAQA's Generation business, emphasized that the sale aligns with TAQA's efforts to transition towards cleaner energy solutions, reduce long-term emissions, and adapt to global energy demands.
  • TAQA has made significant strategic growth investments in low-carbon power and water projects across the UAE, Morocco, and Saudi Arabia.
  • In the UAE, TAQA has unveiled plans for an additional 1 GW of gas-fired capacity and is developing a joint solar and battery energy storage system with Masdar.
  • TAQA's subsidiary TAQA Morocco is exploring the acquisition of a CCGT power plant and developing new flexible, low-carbon gas-fired and renewable power generation projects.
  • In Saudi Arabia, TAQA has achieved financial close for three highly efficient gas-fired plants, totaling approximately 3.6 GW.

Statistics:

  • TAQA's gross capacity has grown from 21 GW in 2020 to approximately 70 GW as of September 30, 2025.
  • TAQA aims to reach a 2030 target of 150 GW, with two-thirds coming from renewables through its stake in Masdar.
  • The company has invested in developing over 70 GW of low-carbon power and water projects.

Sources:

  • TradeArabia News Service
  • Al Hilal Publishing and Marketing Group
  • SyndiGate Media Inc.