emirates7 - The Abu Dhabi National Energy Company (TAQA) has released its financial results for the first quarter ending 31 March 2025, reporting a 3.8% year-on-year increase in revenue to AED14.2 billion. This growth was largely attributed to higher pass-through costs in its Transmission and Distribution (T&D) segment.
Despite the rise in revenue, TAQA experienced a 6.7% decline in EBITDA, which fell to AED5.3 billion, while net profit dropped by 1.5% to AED2.1 billion.
TAQA, through its strategic interest in Masdar, made notable progress in expanding its global renewable energy footprint during Q1. Masdar’s Saeta Yield platform acquired the 243 MW Valle Solar project in Spain. Additionally, Masdar agreed to purchase a 49.99% stake in four solar assets owned by Endesa S.A. in Spain, totaling 446 MW, subject to regulatory approval.
In a major development, Masdar is also leading the creation of the world’s first giga-scale, round-the-clock renewable energy project in Abu Dhabi. This initiative will combine 5.2 GW of solar capacity with 19 GWh of battery storage to supply 1 GW of continuous clean power.
In April, TAQA and the Emirates Water and Electricity Company (EWEC) signed a significant power purchase agreement for the 1 GW Al Dhafra Thermal plant. Alongside this, substantial investments are being made in new grid infrastructure to support ongoing and future energy demands.
These efforts are being carried out in tandem with Masdar’s continuous renewable initiative and are expected to play a vital role in powering the UAE’s Artificial Intelligence Strategy 2031.
The Al Dhafra Thermal plant, which will be entirely owned and operated by TAQA, is designed to deliver reliable, efficient, and flexible power generation. TAQA’s Transmission division will ensure the integration of additional gas and renewable capacity into the grid using cutting-edge infrastructure to meet the energy needs of high-performance computing and advanced digital systems.
Together, these initiatives are projected to require investments of approximately AED36 billion in the coming years.
Despite the rise in revenue, TAQA experienced a 6.7% decline in EBITDA, which fell to AED5.3 billion, while net profit dropped by 1.5% to AED2.1 billion.
TAQA, through its strategic interest in Masdar, made notable progress in expanding its global renewable energy footprint during Q1. Masdar’s Saeta Yield platform acquired the 243 MW Valle Solar project in Spain. Additionally, Masdar agreed to purchase a 49.99% stake in four solar assets owned by Endesa S.A. in Spain, totaling 446 MW, subject to regulatory approval.
In a major development, Masdar is also leading the creation of the world’s first giga-scale, round-the-clock renewable energy project in Abu Dhabi. This initiative will combine 5.2 GW of solar capacity with 19 GWh of battery storage to supply 1 GW of continuous clean power.
In April, TAQA and the Emirates Water and Electricity Company (EWEC) signed a significant power purchase agreement for the 1 GW Al Dhafra Thermal plant. Alongside this, substantial investments are being made in new grid infrastructure to support ongoing and future energy demands.
These efforts are being carried out in tandem with Masdar’s continuous renewable initiative and are expected to play a vital role in powering the UAE’s Artificial Intelligence Strategy 2031.
The Al Dhafra Thermal plant, which will be entirely owned and operated by TAQA, is designed to deliver reliable, efficient, and flexible power generation. TAQA’s Transmission division will ensure the integration of additional gas and renewable capacity into the grid using cutting-edge infrastructure to meet the energy needs of high-performance computing and advanced digital systems.
Together, these initiatives are projected to require investments of approximately AED36 billion in the coming years.