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