Latest news with #TAQA
Trade Arabia
an hour ago
- Business
- Trade Arabia
Abu Dhabi's data centre industry power investments to hit $10bn
Abu Dhabi National Energy Company (Taqa) is poised to significantly bolster Abu Dhabi's burgeoning data and artificial intelligence hub, with its CEO and Managing Director announcing that total investments to support the power needs of the data centre industry in the emirate will exceed AED37 billion. This announcement aligns with Taqa's broader strategy to provide clean, certified, and reliable energy for critical infrastructure. Speaking to the Wam on the sidelines of the World Utilities Congress 2025, Taqa Group CEO and Managing Director Jasim Husain Thabet hlighted the company's robust growth and strategic acquisitions. With a market capitalisation estimated at approximately AED360 billion, TAQA stands among the top five companies in Europe, Africa, and the Middle East for electricity generation, transmission, and water desalination, operating across 25 countries. Over the past four years, TAQA has impressively doubled its electricity production capacity to 56 gigawatts, surpassing the total electricity consumption of the United Kingdom. Recent strategic moves include the acquisition of an 875-megawatt gas-powered electricity station in Uzbekistan, in partnership with Mubadala, supporting Uzbekistan's energy transition and opening new Central Asian markets. Additionally, TAQA's acquisition of "Transmission Investment", a leading UK-based energy and utility investment platform. Further enhancing its clean energy portfolio, TAQA is currently constructing a 1-gigawatt gas turbine power station. In collaboration with Masdar, where TAQA holds a major stake, the company is also developing 5 gigawatts of solar energy backed by 19 gigawatt-hours of battery storage. This integrated solar and battery system, designed to deliver a continuous supply of 1 gigawatt for 24 hours, will be the largest project of its kind globally. Taqa aims to invest AED75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts, he said.
TECHx
a day ago
- Business
- TECHx
TAQA Announces AED37B Investment for Data Hub Power
Home » Smart Sectors » Energy » TAQA Announces AED37B Investment for Data Hub Power Abu Dhabi National Energy Company (TAQA) has announced plans to invest over AED37 billion to support the power needs of Abu Dhabi's growing data and artificial intelligence hub. The announcement was made by Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director, during the World Utilities Congress 2025. He revealed the investments align with TAQA's broader strategy to provide clean, certified, and reliable energy for critical infrastructure. TAQA, with a market capitalisation of around AED360 billion, is among the top five companies in Europe, Africa, and the Middle East for electricity generation, transmission, and water desalination. The company operates in 25 countries. Over the past four years, TAQA has doubled its electricity production capacity. It now generates 56 gigawatts—more than the total electricity consumed by the United Kingdom. Key developments were also reported: TAQA acquired an 875-megawatt gas-powered station in Uzbekistan with Mubadala. The move supports Uzbekistan's energy transition and opens access to Central Asian markets. TAQA also acquired 'Transmission Investment', a UK-based platform focused on energy and utility infrastructure. Further, the company is building a 1-gigawatt gas turbine power station to enhance its clean energy portfolio. In partnership with Masdar, in which TAQA holds a major stake, it is developing 5 gigawatts of solar energy backed by 19 gigawatt-hours of battery storage. This integrated project aims to provide a steady 1-gigawatt energy supply for 24 hours. It is expected to become the world's largest solar-battery initiative of its kind. TAQA has announced it will invest AED75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts. As part of this strategy, the company plans to develop water desalination plants with a combined daily capacity of 1.3 billion gallons. Two-thirds of this will use efficient reverse osmosis technology.
What's On
a day ago
- Business
- What's On
6 important steps for home buyers in Abu Dhabi, from What's On's readers
Jump on that bandwagon… 3 of 12 Look for available rental units on websites such as propertyfinder. ae, or A studio apartment could run you upwards of Dhs50,000 per year, while a 2-bedroom unit begins at about Dhs80,000. Obviously, this varies depending on which side of town you’re considering. Housing listings include agency and real estate agent information. Request a callback via Whatsapp and schedule a showing. When you’ve found the right apartment, you will need a credit check, proof of employment, ID, income statement, and other major documents to reserve your unit. Use your negotiation skills when liaising with the owner via your real estate agent. You will typically need to put down 5 per cent of the annual rental figure as your agent fee and another 5 per cent to confirm your interest. You can pay in quarterly, semiannual, and annual postdated cheques. In some parts, you could be lucky enough to find yourself a monthly payment deal. If you’re able to fork out a year’s payment upfront, however, you’ll usually get a few thousand Dirhams off the list price. When you’re ready to get power and water, you’ll need to get a connection in your name with TAQA (formerly ADDC). Charges include a Dhs1,000 deposit and chilled water deposit. For handyman services, speak with the property owner and property management company. Some properties have a tie-up with companies. When you’re registered, TAQA will set up your water and electricity accounts on Tawteeq. Finally, when you have it all taken care of, make sure you have a document called the Move-in Permit. Without this, the building staff won’t be legally allowed to let you move in with your furniture. Buying a property is a huge step in anyone's life. Whether you're looking to buy a home to live in or as an investment, here are 6 simple things for new home buyers to remember, as sent in by our readers. Obvious? Maybe. Helpful? Absolutely. > Sign up for FREE to get exclusive updates that you are interested in
Gulf Today
a day ago
- Business
- Gulf Today
Make-A-Wish, Taqa bring hope to critically ill kids
Make-A-Wish UAE has signed a Memorandum of Understanding with TAQA to strengthen corporate social responsibility and bring hope to children battling critical illnesses through collaborative initiatives. The signing ceremony took place at the TAQA Stand (Arena) during the World Utilities Congress held at ADNEC Centre Abu Dhabi, in the presence of Hani Al Zubaidi, CEO of Make-A-Wish UAE, and Hamad Al Hajri, Chief Corporate Support Officer of TAQA, alongside senior executives and representatives from both organisations. This strategic partnership aims to expand institutional humanitarian efforts by collaborating on impactful initiatives that provide emotional and psychological support to children and their families. The MoU also reflects TAQA's deep-rooted commitment to social responsibility and opens the door to a range of future initiatives in partnership with Make-A-Wish UAE, including volunteering opportunities for TAQA employees to actively contribute to wish-granting activities and events. Commenting on the occasion, Hani Al Zubaidi stated, "This MoU embodies our shared vision with TAQA to inspire hope and joy in the hearts of children facing critical illnesses, and to enhance the role of government-related entities in championing humanitarian causes. "We are grateful for TAQA's generous commitment and belief in our mission, and we are confident that this partnership will lead to meaningful, lasting impact in the lives of our wish children and their families.' Hamad Al Hajri stated, 'Sustainability extends beyond environmental protection; it is also about how we care for our communities. Make-A-Wish UAE supports children and families during some of their most difficult moments, and through this partnership, we can channel our resources towards that purpose. Every child deserves moments of joy, and we are honoured to contribute to a cause that brings hope where it is needed most.' The MoU serves as a model for corporate-community collaboration, paving the way for a series of programmes and events tailored for children with critical illnesses. It reinforces Make-A-Wish UAE's position as a leading humanitarian organisation and underscores TAQA's ongoing support of impactful community-driven initiatives.
Arabian Business
a day ago
- Business
- Arabian Business
Mubadala and TAQA complete purchase of power plant in Uzbekistan
Mubadala, the Abu Dhabi sovereign investor, and Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities in the world, have completed the acquisition of a gas-fired power generation plant at the Talimarjan Power Complex in Uzbekistan. Mubadala and TAQA each hold a 40 per cent stake in the 875MW TPP1 combined-cycle gas-fired plant through a newly established project company, Talimarjan Power Plant 1 LLC (TPP1). Both Abu Dhabi companies also hold a 40 per cent stake in the Talimarjan Operations & Maintenance (O&M), which was established to operate the plant. Uzbekistan's JSC 'Talimarjan Issiqlik Elektr Stansiyasi (TIES) holds the remaining 20 per cent stakes in both the project company and the O&M entity. Uzbekistan is privatising its power sector, and Abu Dhabi's investment follows a strategic partnership between the Governments of Uzbekistan and the United Arab Emirates. Mubadala and TAQA will bring their global power sector expertise to the local power market in the country. The plant has a Power Purchase Agreement (PPA) with JSC 'Uzenergosotish' (UES) for 25 years and is expected to play a critical role in meeting the demand for electricity in the country as Uzbekistan continues to experience rapid population and economic growth. Hammad Rahman, Head of Asia Pacific Infrastructure at Mubadala, commented: 'Mubadala is committed to supporting countries across the world to meet their energy needs while reducing carbon emissions. Efficient natural gas-fired powered plants such as TPP1 will play an important part in enabling the transition to cleaner sources of energy. 'Uzbekistan is recording a significant growth in demand for power, and Mubadala looks forward to working with TAQA and our local partner TIES to ensure communities and businesses across the country have access to reliable, affordable and secure power supply that supports progress and socio-economic development.' Frank Possmeier, Chief Investment Officer, Generation at TAQA, added: 'TAQA is pleased to collaborate with Mubadala and TIES in acquiring this vital asset that plays a crucial role in Uzbekistan's journey towards a privatised energy sector. As a low-carbon power and water champion, TAQA will leverage its extensive experience and expertise to help Uzbekistan meet its growing energy needs while continuing to invest in this critical sector. 'Our stake in TPP1 demonstrates progress in delivering on our 2030 targets which aim to grow our power generation capacity to 150GW and strengthens our operation and maintenance capabilities which is also a pivotal element of our strategy. We are committed to enhancing efficiency and ensuring TPP1 runs as a world-class power plant as part of our expanding portfolio.' TAQA's Generation business is targeting 150GW of gross power generation by 2030, with around two-third of that capacity coming from renewable power sources through its leading stake in Masdar's renewable energy operations.
