From Yahoo Finance: 2025-05-28 07:26:00

Abu Dhabi National Energy Company (TAQA) is eyeing acquisitions in the US and other regions to expand globally and meet growth targets, with ADPower owning over 90% of TAQA. CEO Jasim Husain Thabet aims for $20bn investments by 2030, including a recent 50% stake in US company Terra-Gen. UAE plans to increase energy investments in the US to $440bn by 2034.

TAQA is considering acquisitions of fully integrated companies in the energy sector and monitoring investment opportunities in Syria. Following a successful $1.75bn bond sale, TAQA may consider debt options for significant merger and acquisition deals. Despite rumors, TAQA has not engaged in discussions to acquire a stake in Spanish utility Naturgy.

In April 2024, TAQA acquired UK-based Transmission Investment to expand offshore electricity transmission presence. The company aims to expand capacity to 150GW by 2030 from the current 56GW. Thabet remains cautious about committing to investments in Syria and continues to evaluate potential opportunities in various markets.



Read more at Yahoo Finance: Abu Dhabi’s state-owned utility TAQA targets US energy sector expansion