14/08/2026 02:56 AST
Abu Dhabi National Energy Company (Taqa) reported higher revenue and profitability for the first half of 2026, supported by stronger returns from its transmission and generation businesses and increased investment across power, water and transmission infrastructure.
Revenue reached AED 27.5 billion ($7.5 billion) in the six months ended June 30, 2026, while EBITDA rose 7.7 per cent to AED 11 billion from AED 10.2 billion in the same period last year.
Net income attributable to Taqa shareholders increased 9.7 per cent to AED 4.1 billion, compared with AED 3.7 billion a year earlier.
Capital expenditure rose 38 per cent year-on-year to AED 7.2 billion as the company accelerated investment in its infrastructure portfolio.
Free cash flow, meanwhile, declined to AED 4.6 billion from AED7 billion in the prior-year period, mainly reflecting higher capital investment.
Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of Taqa, said the company delivered a strong first half, with growth across its utilities businesses supporting higher earnings.
"Our integrated model gives us the stability and financial strength to keep investing in the power and water infrastructure needed for decades to come. That is true both in the UAE and across our international markets," he said.
Thabet added, "Over the past six months, we advanced strategic partnerships that strengthen Abu Dhabi's industrial development and sustainability ambitions. Through Masdar, we extended our reach across key renewable energy markets, further strengthening our international presence and supporting the global energy transition."
During the period, Taqa advanced several major infrastructure and strategic partnerships across the UAE.
The Emirates Water and Electricity Company (Ewec) awarded the 2.6 GW Taweelah C Independent Power Producer project to a consortium led by Taqa, which holds a 60 per cent stake.
The project is expected to support grid stability and facilitate the large-scale integration of renewable energy into Abu Dhabi's power system through 2050.
Taqa and Adnoc also signed a 27-year Utilities Purchase Agreement to supply critical 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 the water sector, Taqa Water Solutions, Etihad Water and Electricity and Saur International signed a long-term agreement with the Ras Al Khaimah government to develop the emirate's largest wastewater treatment plant.
The facility will have capacity to process 60,000 cubic metres of wastewater per day and serve up to 300,000 people.
Taqa also joined Ewec, Masdar, EDF Power Solutions and Jinko Power in completing an $870.75 million (AED 3.2 billion) green bond issuance to refinance the Al Dhafra Solar PV Independent Power Plant, supporting renewable energy development and sustainable financing.
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