• ADQ remains committed to maintaining a sizeable ownership stake in TAQA
  • TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition

Abu Dhabi, UAE: ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetize a stake of 8.6% in Abu Dhabi National Energy Company PJSC (“TAQA”) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.

TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The company operates in 11 countries globally and has recently taken a controlling stake in Masdar’s renewable business, along with ADNOC and Mubadala, which aims to become a global leading clean energy company, targeting more than 50GW capacity by 2030.

H.E. Mohamed Hassan Alsuwaidi, Managing Director & CEO of ADQ, commented: “The transaction underlines our efforts to attract long-term institutional partners and leverage monetization opportunities that ensure we generate sustainable capital growth and a balanced portfolio of diversified investments. We also believe this transaction will support our aspiration to facilitate increased free float in TAQA and Abu Dhabi’s capital markets.”

As a majority-owned portfolio company of ADQ serving as its key growth platform within the utilities sector, TAQA remains a key asset within ADQ’s energy and utilities portfolio supporting its activities in accelerating the UAE’s clean energy transition while generating sustainable financial returns.

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About ADQ 

Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy, including energy and utilities, food and agriculture, healthcare and life sciences, and transport and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.

For more information, visit ADQ.ae or write to media@adq.ae. You can also follow ADQ on Twitter, Instagram and LinkedIn.