TAQA Group Achieves AED 14.2 Billion Revenue Growth In Q1 2025 Despite EBITDA Decline

Abu Dhabi National Energy Company (TAQA) has disclosed its financial results for the first quarter ending 31st March 2025. The company experienced a 3.8% increase in revenue, totalling AED14.2 billion, largely due to higher pass-through items in Transmission and Distribution (T&D). Despite this growth, EBITDA decreased by 6.7% to AED5.3 billion, and net income dropped by 1.5% to AED2.1 billion.

TAQA's strategic involvement with Masdar has facilitated significant advancements in its global renewable energy portfolio during the first quarter. Masdar’s Saeta Yield platform successfully acquired the 243 MW Valle Solar project located in Spain. Additionally, Masdar agreed to purchase a 49.99% stake in four solar assets owned by Endesa S.A., amounting to 446 MW, pending regulatory approvals.

In Abu Dhabi, Masdar is pioneering the world's first giga-scale 'round-the-clock' renewable project. This initiative combines 5.2 GW of solar capacity with 19 GWh of battery storage to consistently supply 1 GW of clean energy. This project represents a significant step towards sustainable energy solutions.

In April, TAQA and Emirates Water and Electricity Company (EWEC) announced a major power purchase agreement for the Al Dhafra Thermal plant, which will have a capacity of 1 GW. This plant will be fully owned and operated by TAQA and will provide efficient and flexible energy solutions.

The Al Dhafra Thermal plant is part of broader efforts to enhance grid infrastructure alongside Masdar’s renewable initiatives. These projects are crucial for supporting the UAE’s AI Strategy for 2031 by ensuring reliable power supply for advanced digital infrastructure.

TAQA Transmission is set to integrate additional gas and renewable capacities into the grid using cutting-edge transmission technology. This infrastructure will ensure the stability required for high-performance computing and other digital advancements.

The combined investment needed for these projects is estimated at around AED36 billion over the coming years. These developments underscore TAQA's commitment to advancing energy solutions that align with national strategies and global sustainability goals.

With inputs from WAM