Photo Credit : WAM
Abu Dhabi National Energy Company (TAQA) reported a 9.7 percent increase in net income attributable to shareholders for the first half of 2026, supported by stronger contributions from its transmission and generation businesses.
Net income reached AED4.1 billion during the six months ended June 30, compared with AED3.7 billion in the same period last year. Group revenue stood at AED27.5 billion.
Earnings before interest, taxes, depreciation and amortisation increased by 7.7 percent to AED11 billion, up from AED10.2 billion in the first half of 2025.
TAQA’s capital expenditure rose 38 percent year-on-year to AED7.2 billion as the company accelerated investment across its power, water and transmission networks.
Free cash flow declined to AED4.6 billion from AED7 billion a year earlier, mainly due to the higher level of investment during the reporting period.
Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, said the company delivered a strong first-half performance, with growth across its utilities businesses contributing to higher earnings.
He said TAQA’s integrated business model provides the stability and financial capacity needed to continue investing in long-term power and water infrastructure in the UAE and international markets.
Thabet added that the group advanced several strategic partnerships during the period to support Abu Dhabi’s industrial development and sustainability goals. Through Masdar, TAQA also expanded its presence in key renewable energy markets and strengthened its contribution to the global energy transition.
During the first half, the Emirates Water and Electricity Company awarded the 2.6-gigawatt Taweelah C Independent Power Producer project to a TAQA-led consortium. TAQA holds a 60 percent stake in the project, which is expected to support grid stability and facilitate the integration of renewable energy into Abu Dhabi’s electricity system through 2050.
TAQA and ADNOC also signed a 27-year Utilities Purchase Agreement to supply essential utilities to the TA’ZIZ Industrial Chemicals Zone in Ruwais. The agreement strengthens TAQA’s role in supporting Abu Dhabi’s industrial expansion through reliable utility infrastructure.
In Ras Al Khaimah, TAQA Water Solutions, Etihad Water and Electricity, and Saur International signed a long-term agreement with the emirate’s government to develop its largest wastewater treatment plant.
The facility will have a treatment capacity of 60,000 cubic metres per day and is expected to serve as many as 300,000 people.
TAQA, EWEC, Masdar, EDF Power Solutions and Jinko Power also completed a US$870.75 million, equivalent to AED3.2 billion, green bond issuance to refinance the Al Dhafra Solar Photovoltaic Independent Power Plant. The transaction supports sustainable financing and the continued expansion of renewable energy infrastructure.
