TAQA exits India coal asset in push toward flexible gas and clean power

30/10/2025 06:31 AST

Abu Dhabi National Energy Company has exited its lignite-fired power operations in India, marking another step in the utility's shift toward flexible gas and renewable energy assets.

TAQA sold its 100% stake in TAQA Neyveli Power Company to MEIL Energy Private Limited for ?9.26 billion, or about Dh387 million. The plant, based in Tamil Nadu, has capacity of 250 megawatts and represented the company's final lignite position in India.

The move forms part of TAQA's plan to reduce Scope 1 and Scope 2 emissions by 25% by 2030 and focus on lower-carbon technologies. The company said proceeds will support its strategy of prioritising gas-fired generation and renewable energy through its stake in Masdar.

"This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix," said Farid Al Awlaqi, CEO of TAQA's Generation business. "It aligns with TAQA's broader efforts to transition towards cleaner energy solutions, reduce long-term emissions, and respond to the changing dynamics of global energy demands. Our focus remains on developing flexible, efficient and low-carbon power generation assets that support sustainable growth and the energy transition."

TAQA has accelerated project activity over the past year, including an additional 1 gigawatt of gas-fired capacity in the UAE and Masdar's round-the-clock renewables project, which is set to become the largest integrated solar and battery storage system capable of delivering baseload power. In Saudi Arabia, the company closed financing for cogeneration and combined-cycle gas projects totalling about 3.6 gigawatts.

In Morocco, the firm is exploring the acquisition of an existing combined-cycle plant and is pursuing new low-carbon gas, renewable and water infrastructure projects. TAQA's gross capacity has risen from 21 gigawatts in 2020 to about 70 gigawatts as at September 2025, and the company is targeting 150 gigawatts by 2030, with two-thirds from renewables through Masdar.

The transaction with MEIL Energy supports TAQA's long-term plan to prioritise efficient assets, strengthen energy security, and expand in markets where low-carbon technologies and grid-scale flexibility are in high demand.

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