In a statement issued on its results for the six months ended June 30, TAQA said revenues amounted to AED 27.5 billion, reflecting a 2.6 percent decline from AED 28.2 billion in the corresponding period of 2025 mainly due to lower pass-through revenues in its distribution unit as well as planned decommissioning of UK North Sea oil and gas assets. The announcement noted that profitability rose nonetheless with EBITDA climbing 7.7 percent to AED 11.0 billion from AED 10.2 billion a year earlier, supported by stronger performance in transmission and generation activities. Capital expenditure increased 38 percent to AED 7.2 billion as the group accelerated spending across power, water and network infrastructure while free cash flow reached AED 4.6 billion compared with AED 7.0 billion previously.
According to the statement, TAQA’s board approved an interim dividend of 0.8 fils per share for the second quarter, amounting to approximately AED 899 million. The company, which maintains operations in 26 countries and is listed on the Abu Dhabi Securities Exchange, highlighted that its integrated utilities model provided the stability to sustain investments even as oil and gas output moderated. A PwC assessment of regional energy groups has previously placed similar entities at the forefront of infrastructure expansion across the UAE, where power and water demand continue to grow in line with economic diversification plans.
The announcement detailed multiple strategic advances in the UAE utilities sector during the period. TAQA secured a 60 percent stake in the 2.6 gigawatt Taweelah C independent power producer project awarded by the Emirates Water and Electricity Company to bolster grid stability and renewable integration. It also entered a 27-year utilities purchase agreement with ADNOC to supply the TA’ZIZ industrial chemicals zone in Ruwais and partnered on a wastewater treatment facility in Ras Al Khaimah with daily capacity of 60,000 cubic metres.
TAQA further participated in a USD 870.75 million green bond issuance alongside partners to refinance the Al Dhafra solar photovoltaic plant, the statement continued. Through its significant stake in Masdar the group supported a USD 2.2 billion joint venture with TotalEnergies for onshore renewables across Asia as well as the acquisition of a stake in a 705 megawatt operational portfolio in Spain. Contracts for difference were secured for an additional 3 gigawatts of offshore wind capacity in the United Kingdom, extending the company’s role in the global energy transition.
Jasim Husain Thabet, group chief executive officer and managing director, said in the statement, “TAQA has delivered a strong first half of the year, with growth across our utilities businesses driving higher earnings.” He added that the integrated model gives the group the stability and financial strength to keep investing in the power and water infrastructure needed for decades to come both in the UAE and across international markets. The announcement framed these partnerships as reinforcing Abu Dhabi’s industrial development and sustainability goals while strengthening TAQA’s international presence.
Established in 2005 as a diversified utilities and energy group headquartered in Abu Dhabi, TAQA owns and manages assets spanning power generation, water treatment, transmission, distribution and upstream oil and gas operations, the statement concluded. The first-half performance aligns with broader sector trends in which utilities operators have maintained earnings resilience despite commodity price fluctuations, according to data from regional industry trackers. TAQA said the results underscored its long-term perspective and commitment to customers and communities in all markets where it operates.
