Taqa reports net income of Dhs4.1 billion for first half of 2026

Abu Dhabi National Energy Company (Taqa) on Thursday announced its financial results for the six-month period ended 30th June 2026, reporting revenues of Dhs27.5 billion and higher profitability, driven particularly by increased returns from Taqa Transmission and Taqa’s Generation business.Ebitda rose by 7.7 per cent to Dhs11.0 billion from Dhs10.2 billion in the first half of 2025. Net income attributable to Taqa shareholders increased by 9.7 per cent to Dhs4.1 billion, compared with Dhs3.7 billion in the prior-year period.Capital expenditure rose to Dhs7.2 billion, up 38 per cent year-on-year, reflecting accelerated investment across power, water, and transmission networks.Free cash flow was Dhs4.6 billion, compared with Dhs7.0 billion in the prior year, largely driven by increased investment.Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of Taqa, said that Taqa has delivered a strong first half of the year, with growth across utilities businesses driving 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 first half of 2026, Taqa continued to advance strategic partnerships and infrastructure projects across the UAE’s power and water sectors. EWEC awarded the 2.6 GW Taweelah C Independent Power Producer project to a consortium led by Taqa (60 per cent stake), supporting grid stability and enabling the large-scale integration of renewables into Abu Dhabi’s power system until 2050.Taqa and Adnoc signed a 27-year Utilities Purchase Agreement to provide critical utilities to the TA’ZIZ Industrial Chemicals Zone in Ruwais, reinforcing Taqa’s role in supporting Abu Dhabi’s industrial growth through reliable and efficient utility infrastructure.Also, Taqa Water Solutions, Etihad Water and Electricity and Saur International signed a long-term agreement with the Government of Ras Al Khaimah to develop the Emirate’s largest wastewater treatment plant, with a capacity of 60,000 cubic metres per day, serving up to 300,000 people.Taqa, EWEC, Masdar, EDF Power Solutions and Jinko Power completed a US$870.75 million (AED3.2 billion) green bond issuance to refinance the Al Dhafra Solar Photovoltaic (PV) Independent Power Plant, supporting sustainable financing and renewable energy growth.Meanwhile Abu Dhabi National Energy Company (Taqa) reported first-quarter revenue of Dhs13.7 billion, while net income attributable to shareholders remained steady at Dhs2.1 billion.EBITDA increased to Dhs5.5 billion from Dhs5.3 billion in Q1 2025, reflecting higher contributions from joint ventures and associates, as well as the stable earnings profile of Taqa’s regulated utilities businesses.Taqa continued to invest across core infrastructure, with capital expenditure rising to Dhs3.2 billion, up 45.5 per cent year-on-year, reflecting accelerated investment across power, water, and transmission networks.Free cash flow was Dhs4.8 billion, in line with the prior year, with higher operating cash flows offset by increased investment in capital projects.In Q1 2026, Taqa shareholders elected a new Board of Directors, with Jassem Mohammed Bu Ataba Al Zaabi appointed Chairman. Taqa shareholders also approved an updated dividend policy for 2026-2028, maintaining both fixed and variable components, with continued year-on-year growth expected from the fixed dividend.Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of Taqa, said that in Q1, Taqa maintained stable operations and delivered resilient results despite the external environment. “As a national champion as well as an international utility industry leader, our priorities throughout this period have been the safety and wellbeing of our people, alongside ensuring the continued delivery of essential power and water to the millions of people who depend on us,” he said.Thabet added, “Backed by stable earnings from our regulated utilities businesses and long-term supply contracts, we continued to invest with discipline in our long-term growth at home and internationally. In the UAE, we progressed strategic projects that support industrial growth, enable the energy transition and reinforce and future-proof our infrastructure.” Internationally, Taqa is progressing with the planned acquisition of GS Inima and developments in Morocco and Saudi Arabia, while continuing to support the growth of Masdar as its largest shareholder.WAM

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Gulf Today - Business · Business News

Published

13th August 2026

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gulftoday.ae

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