Monday, March 27 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

    TAQA acquires additional stake in Taweelah B IWPP

    January 23, 2023 - Mubasher




      Abu Dhabi - Mubasher:Abu Dhabi National Energy Company (TAQA) acquired additional equity in the Taweelah B Independent Power and Water Plant (Taweelah B IWPP), according to a press release.

      TAQA concluded the equity acquisition from BTU Power Company and its liquidators' entire interest in Taweelah B IWPP in Abu Dhabi for $65 million, equivalent to nearly AED 239 million.

      The UAE-based company also entered into the operations and maintenance (O&M) of the power project.

      Furthermore, the ADX-listed firm acquired another 10% shareholding in Taweelah Asia Power Company (TAPCO), Taweelah B IWPP's owner, which raised TAQA's overall ownership stake in TAPCO to 70%.

      Moreover, TAQA held a 25% ownership stake in Asia Gulf Power Service Company Limited, which is the operations and maintenance (O&M) contractor to TAPCO.

      The transaction aligns with TAQA's objective to boost its O&M capabilities while becoming a lead developer and operator in the UAE, Ghana, and Morocco.

      The Taweelah B IWPP has a gross installed power generation capacity of 2.20 gigawatts (GW) on a daily basis, in addition to 162 million imperial gallons of gross installed water desalination capacity.

      Farid Al Awlaqi, TAQA's Executive Director of Generation,said:"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."

      In the first nine months (9M) of 2022, TAQA generated net profits attributable to the equityholders worth AED 6.51 billion, a leap from AED 4.25 billion in 9M-21.



    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.