Abu Dhabi National Energy PJSC (TAQA) News - Mubasher Info
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04 April 08:57 AM

Abu Dhabi National Energy PJSC (TAQA`B)

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News

Photo Archive
23 December 2021 00:33 PM Hitachi Energy wins contract to connect ADNOC’s offshore operations to onshore grid
UAE - Mubasher: Hitachi Energy has been awarded a contract from Samsung C&T Corporation, an engineering and construction company, to connect ADNOC’s offshore operations to the onshore power grid in the UAE. Hitachi's HVDC Light technology will …
Companies Investments
Photo Archive
2 December 2021 03:43 PM ADQ, TAQA ink agreement to explore energy opportunities in Kazakhstan
Abu Dhabi – Mubasher: ADQ and Abu Dhabi National Energy Company (TAQA) have entered into a long-term strategic agreement with Samruk-Kazyna, a sovereign wealth fund, to explore opportunities in the energy sector in Kazakhstan. Under the …
Companies Investments
Photo Archive
17 November 2021 11:27 AM ADNOC, TAQA to form new renewable energy, green hydrogen venture
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) will form a new global renewable energy and green hydrogen venture. The new venture will have a total generating capacity of at least 30 …
Companies Investments
The company's revenues amounted to AED 34.268 billion
10 November 2021 11:49 AM TAQA records higher profits in 9M; dividends proposed
Abu Dhabi – Mubasher: The net profits attributable to the equity holders of Abu Dhabi National Energy Company (TAQA) increased to AED 4.259 billion in the first nine months of 2021, compared to AED 1.264 billion in the same period of 2020, …
Financial Results
Selling fossil fuel assets is part of TAQA's objective to cut its carbon emissions
30 September 2021 11:13 AM TAQA hires advisors to sell oil, gas assets in Canada
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has hired advisors to exit all its oil and gas producing assets in Canada, sources told Reuters. Selling fossil fuel assets is part of TAQA's objective to cut its carbon emissions and …
Companies Investments
The three companies will prioritise local ICV-certified suppliers
12 September 2021 02:20 PM Etisalat, Emirates Steel, TAQA inks MoUs to join National ICV Programme
UAE - Mubasher: The UAE Ministry of Industry and Advanced Technology (MoIAT) has inked three separate Memorandum of Understandings (MoU) with Emirates Telecommunications Group (Etisalat), Emirates Steel, and Abu Dhabi National Energy …
Companies Investments
The energy company owns a portfolio of upstream and midstream operations
2 September 2021 11:19 AM TAQA to conduct review of oil and gas business
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) will conduct a review of its oil and gas operations to evaluate strategic options, including the sale of some or all the assets or the retention and development of them. In its review, …
Companies Investments
The company's revenues jumped by 11% to AED 22.191 billion
11 August 2021 11:33 AM TAQA reports higher profits in H1-21; dividends proposed
Abu Dhabi – Mubasher: The unaudited consolidated interims financials of Abu Dhabi National Energy Company (TAQA) reported net profits attributable to the equity holders of AED 2.856 billion during the first half (H1) of 2021, compared to AED 1.467 …
Financial Results
TAQA has reached an agreement on the sale terms with Blue Sky
4 August 2021 04:28 PM TAQA nears deal to sell assets in Canada
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company's (TAQA) is nearing a deal to sell some light oil and natural gas-producing assets in Alberta and British Columbia to Blue Sky Resources, three sources told Reuters. One of the sources said …
Companies Investments
Moody's has withdrawn TAQA's baa1 BCA
8 July 2021 03:46 PM Moody's affirms ratings of TAQA, SENAAT
Abu Dhabi – Mubasher: Moody's Investors Service (Moody's) has affirmed the Aa3 ratings of Abu Dhabi National Energy Company (TAQA)  and the A3 ratings of General Holding Corporation (SENAAT), with a stable outlook for TAQA and a negative outlook …
Ratings
The project will feature a storage facility at Khalifa Port
7 July 2021 03:28 PM TAQA, Abu Dhabi Ports plan to build 2 GW green hydrogen to ammonia project
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) is discussing with Abu Dhabi Ports the development of a 2 gigawatts (GW) industrial-scale green hydrogen to ammonia export project in Abu Dhabi. TAQA and Abu Dhabi Ports are holding …
Companies Investments
TAQA's financial flexibility would remain solid
29 June 2021 01:15 PM Fitch affirms TAQA's rating at 'AA-'; outlook stable
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Abu Dhabi National Energy Company's (TAQA) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'AA-', with a stable outlook. Affirming TAQA's rating is driven by Fitch's view of the …
Ratings
A 10% stake could be valued at around $4.3 billion
10 June 2021 02:05 PM Chinese company in talks to acquire 10% stake in TAQA
Abu Dhabi – Mubasher: China Southern Power Grid Co, a Chinese state-owned company, is holding talks to buy about a 10% stake in Abu Dhabi National Energy Company (TAQA), sources told Bloomberg. The sources remarked that the Chinese company is …
Mergers and Acquisitions
TA’ZIZ aims to strengthen the UAE’s economic growth
1 June 2021 04:53 PM ADNOC, TAQA sign agreement to develop utilities at TA’ZIZ
Abu Dhabi - Mubasher: Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) have inked an agreement to develop utilities at TA’ZIZ, the new chemicals production hub currently under development at Ruwais in Abu Dhabi. …
Companies Investments
Photo Archive
9 May 2021 02:33 PM Shuaa Capital sells 20% stake in MIPCO to Japanese investor
Dubai – Mubasher: Shuaa Capital has sold its 20% equity stake in Mirfa International Power and Water Company (MIPCO) to Sojitz Corporation (Sojitz), a leading Japanese group. Established in 2014 in Abu Dhabi, MIPCO was the 10th project in the …
Companies Investments
The company generated revenues of AED 10.326 billion in Q1-21
5 May 2021 11:07 AM TAQA records AED 1.435bn profits in Q1-21; dividends proposed
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has achieved net profits attributable to the equity holders of AED 1.435 billion during the first quarter (Q1) of 2021, according to the company's proforma interim consolidated …
Financial Results
The order book was four times oversubscribed
2 May 2021 11:57 AM TAQA completes $1.5bn dual-tranche bond offering
UAE – Mubasher: Abu Dhabi National Energy Company (TAQA) announced the placement of $1.5 billion in seven-year and 30-year dual-tranche senior unsecured notes, according to a disclosure on Sunday. The seven-year bonds, which stand at $750 million …
Bonds
Abu Dhabi aims to attract more international investments
22 April 2021 02:34 PM Abu Dhabi eyes selling 10% stake in TAQA
Abu Dhabi – Mubasher: Abu Dhabi is considering selling a 10% stake in Abu Dhabi National Energy Company (TAQA), which could be worth over $4 billion based on its current market price, sources told Bloomberg. This step is part of Abu Dhabi's …
Companies Investments
The company has also announced a tender offer for 3.625% notes
19 April 2021 11:48 AM TAQA hires banks to arrange dual-tranche bond issuance
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has hired banks to arrange a dual-tranche bond issuance, comprising a seven-year tranche and 30-year Formosa paper, Reuters reported. The company has also announced a tender offer …
Bonds
TAQA plans to increase dependence on solar energy in power generation
24 March 2021 02:15 PM TAQA to add AED 40bn to UAE regulated asset base as part of 2030 vision
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) will invest an additional AED 40 billion in its UAE regulated asset base to improve its transmission and distribution business.  This announcement is part of the company’s 2030 vision …
Companies Investments
The total cash dividend for 2020 increased to AED 2.811bn
21 March 2021 11:05 AM TAQA's OGM nods to AED 1.124bn final dividends
Abu Dhabi – Mubasher: The ordinary general meeting of Abu Dhabi National Energy Company (TAQA) has approved a final cash dividend distribution of AED 1.124 billion or 1 fils per share. The total cash dividend for 2020 increased to AED 2.811 …
General Assembly
The company has formed its oil and gas portfolio through a number of acquisitions
17 March 2021 05:29 PM TAQA considers selling oil, gas assets
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) is reportedly weighing a potential sale of its oil and gas assets to focus on power generation, sources told Bloomberg. The sources referred that Taqa is reviewing its oil and gas …
Companies Investments
The group's revenues decreased by 6% in 2020
15 February 2021 11:29 AM TAQA reports lower net profits in 2020; dividends recommended
Abu Dhabi – Mubasher: The pro-forma consolidated financial results of Abu Dhabi National Energy Company (TAQA) showed a decline in net profits attributable to the equity holders of the parent to AED 2.788 billion in 2020 from AED 5.435 billion in …
Financial Results
TAQA's shareholders had agreed on distributing interim dividends
29 December 2020 11:48 AM TAQA receives approvals for new dividend policy
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has obtained the necessary approvals for its new dividend policy for 2020-2022 from the Department of Economic Development and the Securities and Commodities Authority (SCA). These …
Management Decisions
The tariffs were improved to AED 4.85 fils/kWh
22 December 2020 00:26 PM TAQA-led consortium announces financial closing for Al Dhafra project
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Masdar, EDF Renewables, and JinkoPower have announced the financial closing of the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project. A total of seven …
Companies Investments