TAQA

Corporate brand

TAQA is an Abu Dhabi government-controlled energy holding company active in power generation, water desalination, transmission, and oil and gas.

Last updated October 14, 2026

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Overview

TAQA, formally Abu Dhabi National Energy Company PJSC, is an Abu Dhabi government-controlled energy holding company headquartered in the United Arab Emirates. It was created in 2005 as a public joint stock company following Abu Dhabi’s programme to restructure and partially privatize parts of the emirate’s water and electricity sector. Abu Dhabi Water and Electricity Authority was the founding shareholder and initially held 51% of the company. The group’s business spans two principal areas. Its utilities portfolio includes electricity generation and water desalination, particularly in the United Arab Emirates, where it operates or holds interests in a network of independent power and water projects. Its international utility investments include power-generation assets in countries such as Ghana, India, Morocco, Oman, Saudi Arabia, and the United States. Much of the UAE production is sold under long-term power and water purchase agreements to Abu Dhabi’s water and electricity procurement system, giving the domestic business a relatively contracted operating model. TAQA also developed a sizeable international oil and gas portfolio. During its initial expansion under chief executive Peter E. Barker-Homek, the company acquired North American exploration and production businesses, including Northrock Resources, Pioneer Natural Resources Canada, and PrimeWest Energy Trust. It subsequently bought or took interests in North Sea assets from major oil companies and expanded its activities in the United Kingdom and the Netherlands. Its portfolio has included offshore fields, pipelines, gas-storage infrastructure, and other upstream assets. The company also holds an operating interest in the Atrush oil block in Iraq’s Kurdistan region. The rapid acquisition programme increased the scale of TAQA substantially between 2005 and 2008. After Barker-Homek’s departure in 2009, chief executive Carl Sheldon described a shift toward consolidation, operational profitability, and organic growth. The group later experienced earnings pressure from foreign-exchange effects and the revaluation of United States power assets. Its strategic profile changed again in 2020 when TAQA completed a merger with Abu Dhabi Power Corporation, creating one of the region’s largest integrated utilities and strengthening its domestic electricity and water platform. TAQA remains a strategic Abu Dhabi utility and infrastructure group rather than a consumer-facing product brand. Its activities include electricity generation, desalination, conventional oil and gas exploration and production, gas infrastructure, energy-related investments, and selected industrial or services holdings. In December 2021, TAQA and ADNOC announced a major offshore power and transmission project intended to reduce the carbon intensity of ADNOC’s offshore production operations. The company operates internationally across four continents and combines government-linked ownership with public-market trading on the Abu Dhabi Securities Exchange.

History

TAQA’s origins lie in Abu Dhabi’s late-1990s effort to reorganize and privatize elements of the emirate’s water and electricity sector. Abu Dhabi Water and Electricity Authority was established as part of that institutional restructuring and later became the founding shareholder of TAQA. In June 2005, an Emiri Decree created Abu Dhabi National Energy Company PJSC as a public joint stock company, with ADWEA holding an initial 51% stake. The company expanded rapidly after appointing Peter E. Barker-Homek as its first chief executive in May 2006. TAQA pursued an acquisition-led international strategy, building positions in power generation, oil and gas, and related infrastructure. In Canada it acquired Northrock Resources, Pioneer Natural Resources Canada, and PrimeWest Energy Trust. The group also acquired Dutch energy assets and expanded into the United Kingdom’s North Sea, purchasing interests in fields, subsea infrastructure, pipelines, and production licenses from major industry participants. In 2008, TAQA acquired a portfolio of North Sea assets from Shell’s UK business and Esso Exploration and Production UK. These interests included the Tern, Eider, Cormorant, Kestrel, and Pelican fields and related satellite fields. The company later took on operatorship of additional North Sea infrastructure, including the Brent oil pipelines system. In the Netherlands, its activities included gas production, the Piek Gas facility, and the Bergermeer gas-storage project, which became one of Europe’s largest open-access seasonal gas-storage facilities. Barker-Homek left the chief executive role in late 2009 and was succeeded by Carl Sheldon, who had joined TAQA as general counsel. During Sheldon’s tenure the company moved from aggressive expansion toward consolidation and organic growth. The change reflected the scale of the preceding acquisition programme: TAQA’s asset base had increased by more than three times between 2005 and 2008. In 2010, Barker-Homek brought a legal claim against the company alleging breach of contract and asserting that he had been dismissed after raising concerns about alleged misconduct. A Michigan district court dismissed the case in 2011. TAQA continued to develop utility and industrial investments across the Gulf, Africa, Asia, Europe, and North America. It acquired a stake in the Sohar Aluminum smelter and its associated power plant in Oman, held interests in power projects in Saudi Arabia and India, and expanded the Jorf Lasfar power station in Morocco. In Ghana, the Takoradi power facility was enlarged, while in India the group acquired interests in a lignite-fired plant and a hydroelectric project. TAQA also acquired a majority interest and operatorship in the Atrush oil block in Iraq’s Kurdistan region. The company explored further growth in Turkey, signing a 2013 agreement concerning a proposed large-scale coal-field investment. The plan was later delayed because of difficult financing conditions and currency volatility. In the same broad period, TAQA sold shares in Tesla to help finance investment in a power plant in Iraq’s Kurdistan region. Carl Sheldon left TAQA in 2014. Edward LaFehr, formerly president of the North American business, assumed a newly created chief operating officer role, and later left in 2016. The group subsequently faced financial pressure in 2019, when foreign-exchange losses and the revaluation of US power assets contributed to a steep quarterly profit decline. A decisive corporate milestone came in July 2020, when TAQA and Abu Dhabi Power Corporation completed their merger. The combination strengthened TAQA’s domestic power and water platform and established one of the largest utilities in the region. TAQA’s UAE operations became central to the group’s identity, supplying a substantial share of Abu Dhabi’s electricity and desalinated water through a portfolio of generation and desalination plants. In December 2021, TAQA and ADNOC announced a major offshore transmission project intended to connect ADNOC’s offshore production facilities to a cleaner and more efficient onshore power system. The initiative was presented as a way to cut the carbon footprint of offshore production by more than 30%. Today, TAQA is an internationally active, publicly traded Abu Dhabi energy group with utility, water, upstream oil and gas, and energy-infrastructure interests across multiple regions.

2023
Continued utility and transition focus
[5]TAQA news and announcementstaqa.com
TAQA continues to emphasize power, water, transmission and lower-carbon infrastructure alongside its hydrocarbon portfolio.
2021
ADNOC offshore power project announced
[1]TAQAen.wikipedia.org
TAQA and ADNOC announced a project intended to reduce emissions from ADNOC's offshore production operations.
2021
New group leadership
[4]TAQA leadershiptaqa.com
Jasim Husain Thabet becomes Group Chief Executive Officer and Managing Director after the company's transformation.
2020
Merger with Abu Dhabi Power Corporation
[1]TAQAen.wikipedia.org
TAQA completed its merger with Abu Dhabi Power Corporation, creating a larger integrated utilities group.
2020
Major energy and utilities restructuring
[5]TAQA news and announcementstaqa.com
Abu Dhabi reorganizes major power, water and selected oil and gas holdings around TAQA, creating a substantially larger integrated energy and utilities group.
2014
Jorf Lasfar power-station expansion increased its capacity to approximately 2,056 MW.
[1]TAQAen.wikipedia.org
2012
Atrush acquisition and Turkey expansion plan
[1]TAQAen.wikipedia.org
TAQA acquired a majority interest in Iraq's Atrush block and signed an agreement concerning a proposed Turkish coal investment.
2010
Sohar Aluminum investment
[1]TAQAen.wikipedia.org
TAQA acquired a 40% interest in the Sohar Aluminum smelter and associated power plant in Oman.
2009
Leadership transition and consolidation
[1]TAQAen.wikipedia.org
Barker-Homek left the CEO role and Carl Sheldon became chief executive as the company began shifting toward consolidation.
2008
North Sea asset acquisition
[1]TAQAen.wikipedia.org
TAQA acquired a group of Shell and Esso North Sea fields, infrastructure, and production licenses.
2007
Expansion into Canada and the Netherlands
[1]TAQAen.wikipedia.org
TAQA acquired major Canadian oil and gas interests and expanded its Dutch energy portfolio.
2006
First chief executive appointed
[1]TAQAen.wikipedia.org
Peter E. Barker-Homek became TAQA's first chief executive and led its initial international acquisition programme.
2005
TAQA is established and listed
[1]TAQAen.wikipedia.org
An Emiri Decree established Abu Dhabi National Energy Company PJSC as a public joint stock company, with ADWEA as its founding shareholder holding an initial 51% stake, and the company was listed on the Abu Dhabi Securities Exchange.
1998
Abu Dhabi begins water and electricity-sector restructuring
[1]TAQAen.wikipedia.org
Abu Dhabi launched an initiative to restructure and privatize parts of its water and electricity sector, creating the institutional foundation for TAQA.

Products and positioning

A government-backed, publicly listed Abu Dhabi energy and utilities platform combining contracted power, desalination, and transmission assets with international oil, gas, and infrastructure investments.

Utilities · 2005
Power generation
TAQA owns or operates power-generation assets in the UAE and international markets. Its UAE plants are integrated with long-term power-purchase arrangements, while overseas interests include facilities in Ghana, India, Morocco, Oman, Saudi Arabia, and the United States. The portfolio has included gas-fired generation and large-scale independent power and water projects, generally developed under long-term contractual structures, and generation is coordinated with transmission and water-production assets. TAQA owns or operates interests in power-generation assets serving Abu Dhabi and other markets. The portfolio has included gas-fired generation and large-scale independent power and water projects, generally developed under long-term contractual structures. Generation is a core component of the company's UAE utilities platform and is coordinated with transmission and water-production assets.
Utilities · 2005
Water desalination
Desalination is a core part of TAQA’s Abu Dhabi utility platform. The company’s generation and desalination plants supply treated water through the emirate’s regulated procurement and distribution system. Desalination is a core part of TAQA's Abu Dhabi utility platform. The company's generation and desalination plants supply treated water through the emirate's regulated procurement and distribution system, serving residential, commercial and industrial users. The business addresses the emirate's structural water needs and is often integrated with electricity generation in large dual-purpose facilities, making water production an important stabilizing element of the group's infrastructure portfolio.
Upstream energy · 2006
Oil and gas exploration and production
TAQA’s upstream portfolio includes conventional oil and gas interests in Canada, the United Kingdom, the Netherlands, and Iraq. Assets have included North Sea fields, Canadian production businesses, and the Atrush block in the Kurdistan region of Iraq. TAQA's upstream portfolio includes exploration, development and production of conventional oil and natural gas in the UAE and selected international jurisdictions. Hydrocarbon production remains an important source of operating activity and complements the more predictable revenues of the utilities business. The international portfolio has included assets in Canada, the Netherlands and the United Kingdom. TAQA's upstream portfolio includes conventional oil and gas interests in Canada, the United Kingdom, the Netherlands, and Iraq. Assets have included North Sea fields, Canadian production businesses, and the Atrush block in the Kurdistan region of Iraq. Hydrocarbon production remains an important source of operating activity and complements the more predictable revenues of the utilities business.
Energy infrastructure · 2007
Gas storage and infrastructure
The group has held gas infrastructure interests in the Netherlands, including the Bergermeer storage facility and related production and processing assets. These activities complement its upstream portfolio and broaden its role beyond electricity generation. The group has held gas infrastructure interests in the Netherlands, including the Bergermeer storage facility and related production and processing assets, and has participated in gas transportation and storage activities. These businesses support energy-system reliability and connect gas supply with power generation, industrial demand and wider energy markets, complementing its upstream portfolio and broadening its role beyond electricity generation.
Utilities
Desalinated water production
Through power and water projects in Abu Dhabi, TAQA participates in the production of desalinated water for residential, commercial and industrial users. The business addresses the emirate's structural water needs and is often integrated with electricity generation in large dual-purpose facilities. Water production is an important stabilizing element of the group's infrastructure portfolio.
Energy infrastructure
Electricity and water transmission
TAQA's Abu Dhabi transmission interests cover the high-voltage movement of electricity and the transmission of bulk water through strategic network infrastructure. These assets connect generating and desalination facilities with distribution systems and major customers. Their regulated or contracted characteristics support the group's infrastructure-led business model.
Midstream energy
Gas transportation and storage
The company has participated in gas infrastructure activities involving transportation and storage. These businesses support energy-system reliability and connect gas supply with power generation, industrial demand and wider energy markets. Their strategic importance has increased as gas remains significant in regional electricity systems while lower-emissions alternatives are developed.

Controversies

2010
Barker-Homek employment lawsuit
Former chief executive Peter E. Barker-Homek sued TAQA, alleging breach of contract and claiming that he had been dismissed after raising concerns about alleged fraudulent and unethical practices. A Michigan district court dismissed the case in 2011.
Source

2021
Offshore transmission project with ADNOCStrategy
Background
TAQA and ADNOC sought to reduce the emissions intensity of ADNOC’s offshore production operations.
Action taken
The companies announced a multibillion-dollar offshore power and transmission project.
Aftermath
The project was intended to reduce the carbon footprint of offshore operations by more than 30%.
Announced project value. US$3.6 billion (December 2021 announcement)
Source
2021
Adopt an integrated utilities and energy-infrastructure strategyStrategy
Background
After the 2020 restructuring, TAQA needed to manage a portfolio extending well beyond its earlier upstream identity.
Action taken
The group placed power generation, desalination, transmission and infrastructure reliability alongside oil and gas as central strategic businesses.
Aftermath
The company's public positioning shifted toward a diversified Abu Dhabi infrastructure champion with participation in both energy security and the energy transition.
Source
2020
Merger with Abu Dhabi Power CorporationM&A
Background
Abu Dhabi sought to strengthen the scale and integration of its strategic power and water assets.
Action taken
TAQA and Abu Dhabi Power Corporation completed their merger in July 2020.
Aftermath
The combined group became one of the region’s largest utilities and expanded TAQA’s domestic infrastructure platform.
Source
2020
Combine major Abu Dhabi power, water and energy assets with TAQAM&A
Background
Abu Dhabi sought to consolidate important energy and utility holdings in a stronger listed platform with greater scale and more diversified cash flows.
Action taken
The government and related entities transferred major power, water, transmission and selected oil and gas interests into TAQA through a large restructuring transaction.
Aftermath
TAQA became a substantially larger integrated energy and utilities company, with regulated infrastructure and contracted utility operations alongside upstream hydrocarbons.
Source
2013
Delay of proposed Turkish coal investmentStrategy
Background
TAQA had signed an agreement to invest in developing coal fields in southern Turkey, but financing conditions became more difficult amid currency volatility in emerging markets.
Action taken
The company delayed the planned investment.
Aftermath
The proposed project did not proceed on the originally anticipated timetable.
Source
2010
Shift toward consolidation and organic growthStrategy
Background
After several years of rapid acquisitions and a substantial increase in assets, TAQA faced the need to improve operational profitability and integrate its international portfolio.
Action taken
Chief executive Carl Sheldon announced a period focused on consolidation and organic growth rather than continued acquisition-led expansion.
Aftermath
The strategy emphasized operating performance and portfolio management while TAQA continued to hold assets across utilities and upstream energy.
Source

Recent events

2023
TAQA advances power, water and transmission expansion[5]TAQA news and announcementstaqa.com
Other
The company continued developing generation, desalination and transmission projects in Abu Dhabi while presenting infrastructure growth and decarbonization as central strategic priorities.
2021
TAQA and ADNOC announce offshore decarbonization project[1]TAQAen.wikipedia.org
Other
TAQA and ADNOC announced a multibillion-dollar subsea power and transmission project designed to reduce the carbon footprint of ADNOC’s offshore production operations.
2021
Jasim Husain Thabet becomes Group CEO and Managing Director[4]TAQA leadershiptaqa.com
Leadership change
Jasim Husain Thabet was appointed to lead the enlarged TAQA group following the company's major portfolio transformation.
2020
TAQA completes merger with Abu Dhabi Power Corporation[1]TAQAen.wikipedia.org
M&A
The transaction combined TAQA with Abu Dhabi Power Corporation and created a substantially larger Abu Dhabi-centered utilities group.
2020
Abu Dhabi reorganizes major energy and utilities assets around TAQA[5]TAQA news and announcementstaqa.com
M&A
A government-led transaction transferred major power, water and selected oil and gas interests into TAQA, materially expanding the listed company's scale and changing its portfolio profile.
2019
TAQA reports sharp profit decline amid foreign-exchange and asset effects[1]TAQAen.wikipedia.org
Other
The company reported a major first-quarter profit decline associated with foreign-exchange losses and revaluation of United States power assets.
2005
TAQA is established and listed in Abu Dhabi[2]Abu Dhabi National Energy Companyen.wikipedia.org
Other
Abu Dhabi National Energy Company was established as a government-backed energy company and became listed on the Abu Dhabi Securities Exchange.

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