TAQA acquires leading UK electricity transmission development, services company
17 Apr 2025 16:32
ABU DHABI (ALETIHAD)Abu Dhabi National Energy Company (TAQA) announced today that it has acquired 100 percent of Transmission Investment (TI), a leading UK-based energy and utility investment platform.TI is one of the largest players operating offshore transmission (OFTO) assets connecting offshore wind farms to the UK grid.The strategic acquisition strengthens TAQA's position in the offshore electricity transmission sector, reinforcing its commitment to supporting the energy transition and growing in the UK and beyond.The transaction will provide TAQA with a well-established team of more than 40 full-time employees at TI with cross-sector end-to-end technical and development capabilities.TI becomes part of TAQA Transmission, whose new brand was recently launched, and which is the TAQA Group subsidiary responsible for the development and operation of TAQA's high voltage power and bulk water transmission infrastructure.The acquisition of TI establishes TAQA in the UK electricity transmission sector and allows expansion into European and international markets, leveraging TAQA's leading position.Since its founding in 2009, TI has emerged as one of the UK's largest players in the offshore electricity transmission sector, with approximately Dh15 billion (£3 billion) of assets under management in relation to its existing portfolio of 11 OFTO assets.Through its consortium in partnership with Amber Infrastructure and International Public Partnerships (INPP), TI has established a strong track record of bidding for, winning and operating the OFTO assets in the UK, with an approximately 40 percent success rate on OFTO bids.Last week, Ofgem appointed TI's consortium with Amber and INPP as its preferred bidder for Moray West OFTO.TI is also one of the UK's developers of interconnector projects, including the FAB Link Project and the LirIC Project (both the projects have been granted a cap and floor regime by Ofgem), connecting Great Britain with France and Northern Ireland through new HVDC sub-sea electricity interconnectors with an aggregate capacity of approximately 2GW.
Dr. Afif Saif Al Yafei, CEO of TAQA Transmission, said, "Transmission grids are essential for enabling the global energy transition. IRENA estimates that from 2024 to 2030, around $717 billion per year must be invested in grid infrastructure and flexibility measures to align with a pathway that is compatible with a 1.5 °C scenario."
"That is why we are pleased to announce TAQA Transmission's first international acquisition, strengthening our growing portfolio and reinforcing TAQA's role as a global leader in low-carbon power and water solutions. This deal will allow us to leverage the significant capabilities of TI to support our international growth strategy while contributing to the UK's 2050 Net Zero programme and our wider sustainability ambitions," Al Yafei added.
Dr. Chris Veal, Founder and Managing Director of Transmission Investment, said, "TAQA's experience, capability and backing will enable TI to continue to grow and play its part in the development of the UK transmission system in support of the energy transition. The UK's targets of 50GW of offshore wind by 2030, and net zero by 2050, require a huge expansion of offshore and onshore transmission."
"TI is ready to contribute to this expansion. As a leader in the delivery of competitive UK transmission, we are committed to doing so cost-effectively for UK consumers, while ensuring safety and acting responsibly towards society and the environment," Veal said.
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