Taqa records total net income of Dh7.5 billion for 2025

13/02/2026 07:27 AST

Taqa on Thursday reported a solid full-year performance for 2025, posting a net income of Dh7.5 billion as the Abu Dhabi-based utilities group accelerated investment and advanced major domestic and international projects across power, water and transmission.

The group's revenues reached Dh54.8 billion, broadly matching 2024 levels, with stable performance in its core utilities segment offsetting weaker returns from the oil and gas business. Lower commodity prices and declining production in the UK North Sea - where several fields have reached planned end-of-life - continued to weigh on upstream earnings. Even so, Ebitda held strong at Dh20.7 billion, only slightly below the prior year due to non-recurring charges in the generation and O&G portfolios.

Taqa sharply increased capital expenditure to Dh14.5 billion, a 48 per cent rise, as it accelerated infrastructure build-out - including progress on the 1 GW Al Dhafra Thermal Power Plant and significant grid enhancements through Taqa Transmission. The company also advanced work on what it describes as the world's first round-the-clock renewables-plus-storage project, integrating 5.2 GW of solar PV with 19 GWh of battery storage to produce a continuous 1 GW of clean power. Together, these initiatives form part of an Dh36 billion investment programme to meet rising energy demand and support AI-driven industries in Abu Dhabi.

Several milestones marked Taqa's UAE operations: commercial operations began at the 2.4 GW Fujairah F3 plant; agreements were signed to convert the Shuweihat 1 facility into a flexible reserve power plant; and a landmark deal with EGA and other partners will see the acquisition of power and water assets at Al Taweelah - adding 3.1 GW of power and 6.25 million gallons per day of desalination capacity.

Internationally, Taqa expanded its footprint with strategic acquisitions and project wins. It moved to acquire GS Inima for USD 1.2 billion, boosting its global desalination capacity, and completed the acquisition of Transmission Investment in the UK, marking entry into the UK transmission sector. In Saudi Arabia, the group secured financing for the Rumah 2 and Al Nairyah 2 power plants, adding 3.6 GW of efficient gas-fired capacity. Taqa also advanced multi-billion-dollar opportunities in Morocco, expanded operations in Uzbekistan and supported Europe's first CO² storage facility via its P18-A platform transfer to Porthos.

Chairman Mohamed Hassan Alsuwaidi said Taqa's 2025 achievements reflect its commitment to building infrastructure critical to economic resilience. CEO Jasim Husain Thabet noted the company's gross generation capacity has tripled since 2020 to more than 70 GW - nearly two-thirds from renewables - positioning Taqa to meet its 2030 target of 150 GW with two-thirds renewable.

The board proposed a total 2025 dividend of 4.45 fils per share and outlined a new dividend policy for 2026-2028, maintaining fixed and variable components with steady annual growth in the fixed payout.

Trade Arabia