Abu Dhabi National Energy Company “TAQA” recorded a 3.8% year-on-year revenue growth in the first quarter of 2025, reaching AED 14.2 billion. This increase was primarily driven by higher pass-through costs in its transmission and distribution operations.
While revenue increased, adjusted EBITDA declined by 6.7% to AED 5.3 billion, and net income dropped by 1.5% to AED 2.1 billion.
Through its majority stake in Abu Dhabi Future Energy Company “Masdar”, TAQA made significant progress in expanding its global renewable energy portfolio in Q1. Masdar’s subsidiary “C2 Omega” acquired the 243 MW “Valle Solar” project in Spain, and also reached an agreement to acquire a 49.99% stake in four solar assets owned by “Endesa S.A.” with a combined capacity of 446 MW.
Masdar is also developing the world’s first large-scale, round-the-clock renewable energy power plant in Abu Dhabi. The project will integrate 5.2 GW of solar generation with 19 GWh of battery storage, providing a continuous supply of 1 GW of clean energy.
In April, TAQA and Emirates Water and Electricity Company (EWEC) signed a Power Purchase Agreement for the 1 GW Al Dhafra thermal power plant, alongside major investments to upgrade the transmission grid.
These projects are aligned with Masdar’s “24/7” initiative and are expected to play a vital role in powering the UAE’s Artificial Intelligence Strategy 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 renewable capacity into the grid using state-of-the-art transmission infrastructure, which will deliver the energy and stability required for high-performance computing and other advanced digital infrastructure. Combined, these projects will require an investment of around AED 36 billion in the coming years.