Saturday, March 25 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Abu Dhabi's Taqa raises stake in Taweelah B Independent Power and Water Plant in Dh239 million deal

    January 20, 2023 - Gulf News Report


      Dubai: The Abu Dhabi utility company Taqa has raised its stake in Taweelah B Independent Power and Water Plant in a Dh239 million deal, apart from entering a contract for its maintenance and operations.

      Taqa's stake acquisition came after BTU Power Company and its liquidators sold the latter's entire interest in Taweelah B IWPP, which is located in Abu Dhabi. In particular, Taqa acquired an additional 10 per cent in the owner of the Taweelah B IWPP - Taweelah Asia Power Company.

      This raises TAQA's overall ownership stake in Tapco to 70 per cent. "Taqa has ambitious growth plans for our UAE generation business and these transactions reflect that ambition," said Farid Al Awlaqi, Taqa Group's Executive Director of Generation.

      "Increasing our stake in Taweelah B as well as growing our O&M capabilities demonstrates tangible progress in the pursuit of our strategic ambitions to strengthen our position as an integrated low-carbon power and water champion that is creating both shareholder and stakeholder value."

      The Taweelah B Independent Power and Water Plant, owned and operated by TAPCO, has 2.2GW of installed power generation capacity and with 162 million imperial gallons per day of gross installed water desalination capacity.

      Another deal

      In addition, Taqa acquired 25 per cent in Asia Gulf Power Service Company ltd, which is the O&M contractor to TAPCO.

      "The transaction will help support TAQA's commitment to deliver on its strategy of capturing additional growth, enhancing its O&M capabilities, and becoming a lead developer and operator in the region, including in the UAE, Ghana, and Morocco," the company said in a statement.

      This week, Taqa also announced the creation of a JV - E2Go - with ADNOC Distribution to build EV charging network in Abu Dhabi and then spread it out elsewhere in the UAE.

      More to follow...


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.