Abu Dhabi National Energy Company PJSC (TAQA) shared its financial results for the first quarter of 2025. The company reported AED 14.2 billion in revenue, which is a 3.8% increase compared to the same period last year. Most of the revenue came from its Transmission and Distribution business. Net income was AED 2.1 billion, down 1.5%. The drop was linked to market changes in oil and gas and a decline in production.
TAQA’s renewable energy projects are mainly carried out through its stake in Masdar. In early 2025, Masdar added 243 megawatts (MW) through the Valle Solar project in Spain. It also agreed to take a 49.99% stake in four more solar projects in Spain with a combined capacity of 446 MW, pending approval.
In Abu Dhabi, Masdar is working on a new renewable energy project that will supply clean electricity around the clock. The project includes a 5.2 gigawatt (GW) solar plant and a battery system with 19 gigawatt-hours (GWh) of storage. This system is designed to deliver 1 GW of continuous power.
After the first quarter, TAQA and Emirates Water and Electricity Company (EWEC) announced a new power agreement for the Al Dhafra Thermal plant. This plant will add 1 GW of power and will be owned and run by TAQA. It will be combined with new grid infrastructure to improve energy supply for AI and digital systems.
TAQA Transmission will manage the integration of these new projects into the UAE’s grid. This will include investments in updated transmission technology. The combined investment in these and related projects is expected to reach AED 36 billion.
TAQA also acquired Transmission Investment (TI), a company in the UK that manages offshore wind transmission systems. TI operates facilities that connect wind farms to the UK grid and works on subsea power connections.
