TAQA Reports Robust Financial Performance for H1 2026
The Abu Dhabi National Energy Company PJSC (TAQA) has unveiled its financial results for the first half of 2026, showcasing a remarkable net income of Dhs4.1 billion. This reflects a significant 9.7% increase compared to the Dhs3.7 billion recorded during the same period in 2025. The company’s revenue for the six-month period reached Dhs27.5 billion, buoyed by strong performances from the TAQA Transmission and Generation sectors.
EBITDA and Capital Expenditures See Growth
TAQA’s earnings before interest, taxes, depreciation, and amortization (EBITDA) soared by 7.7%, amounting to Dhs11.0 billion, up from Dhs10.2 billion in the first half of the previous year. The growth in EBITDA is attributed to the company’s strategic investments and robust operational performance. Moreover, capital expenditures surged to Dhs7.2 billion, marking a 38% increase year-on-year as TAQA intensified its investments across power, water, and transmission networks.
Strategic Investments Drive Free Cash Flow
While TAQA’s free cash flow reached Dhs4.6 billion, it indicated a decline from the Dhs7.0 billion observed in the prior year. This reduction was largely driven by the company’s commitment to expanding its infrastructure portfolio through increased investments. Jasim Husain Thabet, TAQA’s Group CEO and Managing Director, emphasized the strategic importance of these investments, stating, “Our integrated model provides the financial stability needed to continue investing in essential infrastructure both domestically and internationally.”
Advancements in Renewable Energy and Sustainability
TAQA has made significant strides in renewable energy and sustainability, working alongside partners to bolster Abu Dhabi’s industrial and environmental goals. Through Masdar, TAQA has expanded its footprint in key renewable energy markets, reinforcing its role in the global energy transition. The company’s commitment to sustainability is further exemplified by the successful issuance of a $870.75 million (Dhs3.2 billion) green bond, intended to refinance the Al Dhafra Solar Photovoltaic Independent Power Plant and support sustainable financing initiatives.
Collaborative Projects Enhance Utility Infrastructure
During the first half of 2026, TAQA advanced several strategic partnerships aimed at enhancing infrastructure across the UAE. Notably, the company secured a 60% stake in the 2.6 GW Taweelah C Independent Power Producer project, awarded by the Emirates Water and Electricity Company (EWEC). This project is pivotal in supporting grid stability and the integration of renewable sources into Abu Dhabi’s power system through 2050.
Additionally, TAQA and ADNOC have signed a 27-year Utilities Purchase Agreement to supply essential utilities to the TA’ZIZ Industrial Chemicals Zone in Ruwais, a move that underscores TAQA’s pivotal role in facilitating Abu Dhabi’s industrial expansion.
Infrastructure Development in Ras Al Khaimah
In a separate initiative, TAQA Water Solutions, in collaboration with Etihad Water and Electricity and Saur International, has entered a long-term agreement with the Government of Ras Al Khaimah. The partnership aims to develop the Emirate’s largest wastewater treatment facility, with a capacity to treat 60,000 cubic meters daily, serving an estimated 300,000 residents. This project highlights TAQA’s commitment to providing reliable utility infrastructure across the UAE.