TAQA Expands with Transmission Investment Acquisition

Abu Dhabi National Energy Company, popularly known as TAQA, announced the acquisition of the UK-based energy and utility investment platform, Transmission Investment (TI). This acquisition positions TAQA to further expand its reach and capabilities in the offshore transmission services, aligning with its strategy to venture into European and international markets. Transmission Investment is renowned for its role in the offshore transmission (OFTO) market, boasting 11 assets under management and valued at approximately AED 15 billion ($4.08 billion). Although the financial specifics of the acquisition remain under wraps, the strategic move will lead to TI integrating into TAQA Transmission, the newly established subsidiary focused on high voltage power and bulk water transmission infrastructure. Previously, TAQA Transmission partnered with ADNOC to finalize a significant project involving the deployment of 1,000 kilometers of cables to support the decarbonization of offshore production activities. This latest acquisition aligns with TAQA's objective to strengthen its infrastructure in the energy sector, particularly within the European territory.