Khaled bin Mohamed bin Zayed attends World Utilities Congress 2025
ABU DHABI (ALETIHAD)His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has attended the 4th World Utilities Congress, hosted by Abu Dhabi National Energy Company (TAQA) at ADNEC Centre Abu Dhabi from 27 to 29 May 2025. During the visit, His Highness toured several stands of national entities and companies, including Abu Dhabi Department of Energy, TAQA, Enercap – a subsidiary of Apex Investment PSC, and Elsewedy Electric. His Highness reviewed the latest innovations in the water, electricity, and utilities management sectors, and the ongoing efforts of national stakeholders to advance sustainability practices across the industry.The three-day event convened global decision-makers and experts and featured high-level discussions, pioneering technological solutions and strategic initiatives driving progress across the power and water utilities sectors. This year's edition welcomed more than 18,000 attendees, 1,400 delegates, and in excess of 500 thought leaders from around the world, further enhancing innovation and reinforcing sustainable and environmentally friendly practices in the utilities sector, amid growing global demand for energy and water.The 4th World Utilities Congress focused on digital transformation, artificial intelligence, resilient smart-grid systems, and sustainable funding for projects powered by renewable energy sources, such as wind and solar, to drive practical, future-ready solutions for the challenges facing the utilities sector.
During the visit, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan was accompanied by His Excellency Mohammed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport, Dr Abdulla Humaid Al Jarwan, Chairman of the Abu Dhabi Department of Energy, His Excellency Saif Saeed Ghobash, Secretary General of the Abu Dhabi Executive Council and Chairman of the Office of the Crown Prince, Jasim Husain Thabet, Group CEO and Managing Director of TAQA, and His Excellency Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
21 hours ago
- Khaleej Times
Taqa posts Dh3.7b H1 net income as global expansion gains traction
Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in Europe, the Middle East and Africa, has reported a net income of Dh3.7 billion in the first half of 2025, reflecting its continued strength in core utilities and a growing international footprint despite market headwinds. The group recorded a 4.5 per cent year-on-year increase in revenue to Dh28.4 billion in the six months ended 30 June 2025, driven mainly by higher pass-through costs in its Transmission and Distribution segment. Underlying profitability in its utilities business remained robust, although overall results were weighed down by an expected decline in oil and gas production following the cessation of output from four UK assets, softer oil prices, higher financing costs and non-recurring items. Ebitda fell 11 per cent to Dh10.2 billion. Taqa pressed ahead with its international growth strategy, advancing projects and acquisitions across multiple geographies. In Morocco, the company signed agreements with national and private sector partners to fast-track development of integrated power and water infrastructure, including gas-fired and renewable generation, water desalination and related transmission. The projects represent a potential investment of about Dh52 billion. In Central Asia, Taqa, alongside Mubadala, completed the acquisition of the 875MW Talimarjan power complex in Uzbekistan, marking its entry into one of the region's fastest-growing energy markets. In the UK, Taqa Transmission continued integrating the recently acquired Transmission Investment, which manages about Dh15 billion (£3 billion) in assets across 11 offshore transmission projects, strengthening its role in critical grid expansion to support the energy transition. In the Netherlands, Taqa transferred its P18-A gas platform and associated assets to Porthos, supporting Europe's first major carbon capture and storage facility. Meanwhile, in Greece, Masdar — in which Taqa is a stakeholder — expanded its presence by acquiring 100 per cent of TERNA Energy, a leading renewable developer. Masdar also issued a $1 billion green bond under its Green Finance Framework to fund new renewable projects, underscoring its goal of achieving 100GW of global renewable capacity by 2030. Domestically, Taqa continued to enhance capacity and flexibility in the UAE's energy infrastructure. In partnership with EWEC, it signed a Power Purchase Agreement to convert the Shuweihat 1 plant from a cogeneration facility to a flexible reserve power plant, enabling greater integration of renewables into Abu Dhabi's grid and improving stability during peak demand. This followed the earlier agreement for the 1GW Al Dhafra Thermal project, designed to supply additional dispatchable capacity to meet rising electricity demand from artificial intelligence and digital infrastructure. Chairman Mohamed Hassan Alsuwaidi said in a statement that Taqa's first-half performance highlighted its role as a key enabler of infrastructure development both in the UAE and internationally. 'Alongside sustained investment in domestic power and water infrastructure, our growing international presence, including our plans in Morocco, reinforces Taqa's commitment to providing reliable, efficient power and water supply at scale,' he said. 'As the business evolves, our focus remains on disciplined execution and creating lasting value for shareholders, while supporting the broader energy transition and economic diversification goals of the UAE and the markets we operate in.' Group CEO and managing director Jasim Husain Thabet said the results reflected the resilience of Taqa's integrated utility model. 'Despite headwinds, we continued to make tangible progress on priority projects across generation, water and transmission, increasing system flexibility and expanding our global portfolio. These steps reinforce Taqa's position as a reliable partner for large-scale power and water solutions, regionally and globally,' he said. The group reduced its gross debt to Dh61.7 billion through scheduled repayments and the maturity of a corporate bond, while directing Dh5.2 billion in capital expenditure towards flexible generation, transmission upgrades and strategic desalination projects. The Board approved a second-quarter interim dividend of 0.75 fils per share. Taqa said it would maintain its focus on expanding low-carbon power and water solutions, strengthening grid infrastructure and enabling the energy transition in its markets.
Gulf Today
a day ago
- Gulf Today
Taqa reports Dhs3.7 billion net income for first half of this year
Abu Dhabi National Energy Company (Taqa) on Thursday announced its financial results for the first half of 2025. The group delivered a 4.5 per cent year-on-year increase in revenue for H1 2025, reaching Dhs28.4 billion. This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) segment. EBITDA reached Dhs10.2 billion, while net income stood at Dhs3.7 billion. Underlying profitability in TAQA's core utilities businesses remained strong. Mohamed Hassan Alsuwaidi, Minister of Investment and Chairman of TAQA, said, 'TAQA continues to deliver across its core businesses and new growth markets, reflecting the strength of its long-term strategy.' He added that during the first half of the year, the group advanced its position as a critical enabler of infrastructure development, both within the UAE and internationally. Alsuwaidi stated, 'As the business evolves, our focus remains on disciplined execution and creating lasting value for shareholders, while supporting the broader energy transition and economic diversification goals of the UAE and the markets we operate in.' Jasim Husain Thabet, Taqa's Group Chief Executive Officer and Managing Director, said, 'Taqa's performance in the first half of 2025 reflects the strength of our integrated utility model and ability to consistently deliver value in dynamic market conditions. Despite headwinds, we continued to make tangible progress on priority projects across generation, water and transmission, increasing system flexibility and expanding our global portfolio.' The group reduced its gross debt position to Dhs61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond. At the same time, Taqa accelerated investment in future capacity, with Dhs5.2 billion in capital expenditure directed toward flexible generation, transmission upgrades and strategic desalination projects. Looking ahead, Taqa remains focused on advancing its strategic priorities, expanding low-carbon power and water solutions, strengthening grid infrastructure, and enabling energy transition across its markets. The group continues to support national decarbonisation goals while delivering reliable returns to shareholders through disciplined execution and long-term investment. Meanwhile in May 2025 Abu Dhabi National Energy Company (Taqa) has reported its earnings for the three-month period ending 31st March 2025. Taqa delivered a 3.8 per cent year-on-year revenue growth, reaching Dhs14.2 billion, primarily driven by higher pass-through items in Transmission and Distribution (T&D). While Taqa reported topline growth, EBITDA declined by 6.7 per cent to Dhs5.3 billion and net income fell by 1.5 per cent to Dhs2.1 billion. Through its leading stake in Masdar, Taqa made significant strides in expanding its global renewable portfolio in Q1. Masdar's Saeta Yield platform acquired the 243 MW Valle Solar project in Spain. Also, in Spain, Masdar reached an agreement to acquire a 49.99 per cent stake in four of Endesa S.A.'s solar assets, totalling 446 MW, pending regulatory approvals. Additionally, Masdar is developing the world's first giga-scale 'round-the-clock' renewable project in Abu Dhabi, combining 5.2 GW of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean energy. In April, Taqa and Emirates Water and Electricity Company (EWEC) announced the signing of a major power purchase agreement for the 1 GW Al Dhafra Thermal plant alongside major investments in new grid infrastructure. These projects are being developed in parallel to Masdar's 'round-the-clock' initiative and all of them together will play a key role in providing the power needed to advance the UAE's AI Strategy for 2031. The Al Dhafra Thermal plant will provide efficient, flexible and easily dispatchable capacity and will be fully owned and operated by Taqa. Taqa Transmission will integrate the additional gas and renewables capacity into the grid with state-of-the-art transmission infrastructure that will deliver the energy and stability required for high-performance computing and other advanced digital infrastructure. Combined, these projects will require investment of around Dhs36 billion in the coming years. Abu Dhabi National Energy Company has reported its earnings for the period ending December 31st, 2024. The company's revenues increased 6.7 per cent year-on-year to Dhs55.2 billion, driven by sustained growth in Transmission & Distribution (T&D) and the consolidation of Taqa Water Solutions (TaqaWS). Net income was Dhs7.1 billion, up 1.5 per cent compared to the prior year, excluding one-off items (Dhs10.8 billion) related to the acquisition of a 5 per cent stake in Adnoc Gas and an Dhs1.1 billion deferred tax charge due to the introduction of the UAE corporate tax. WAM
Zawya
a day ago
- Zawya
Egypt: TAQA Arabia sees 66% YoY higher consolidated profits in H1 2025
Arab Finance: The consolidated net profits after tax of TAQA Arabia jumped by 66% year-on-year (YoY) to EGP 350 million in the first half (H1) of 2025 from EGP 211.324 million, the financial results showed. The sales reached EGP 11.543 billion at the end of June 2025, an annual leap of 48% from EGP 7.791 billion. Basic earnings per share (EPS) grew by 66% to EGP 0.259 from EGP 0.156. As for standalone business, TAQA Arabia achieved net profits after tax valued at EGP 133.977 million in the first six months of 2025, down 28% from EGP 186.032 million in H1 2024. Non-consolidated revenues widened by 34% YoY to EGP 276.891 million in H1 2025 from EGP 207.304 million. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
