TAQA reports net income of AED4.1 billion for H1 2026

Abu Dhabi National Energy Company PJSC (TAQA) on Thursday announced its financial results for the six-month period ended 30th June 2026, reporting revenues of AED27.5 billion and higher profitability, driven particularly by increased returns from TAQA Transmission and TAQA’s Generation business.

EBITDA rose by 7.7 percent to AED11.0 billion from AED10.2 billion in the first half of 2025. Net income attributable to TAQA shareholders increased by 9.7 percent to AED4.1 billion, compared with AED3.7 billion in the prior-year period.

Capital expenditure rose to AED7.2 billion, up 38 percent year-on-year, reflecting accelerated investment across power, water, and transmission networks.

Free cash flow was AED4.6 billion, compared with AED7.0 billion in the prior year, largely driven by increased investment.

Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, said that TAQA has delivered a strong first half of the year, with growth across utilities businesses driving higher earnings.

"Our integrated model gives us the stability and financial strength to keep investing in the power and water infrastructure needed for decades to come. That is true both in the UAE and across our international markets," he said.

Thabet added, “Over the past six months, we advanced strategic partnerships that strengthen Abu Dhabi's industrial development and sustainability ambitions. Through Masdar, we extended our reach across key renewable energy markets, further strengthening our international presence and supporting the global energy transition.”

During the first half of 2026, TAQA continued to advance strategic partnerships and infrastructure projects across the UAE's power and water sectors. EWEC awarded the 2.6 GW Taweelah C Independent Power Producer project to a consortium led by TAQA (60 percent stake), supporting grid stability and enabling the large-scale integration of renewables into Abu Dhabi's power system until 2050.

TAQA and ADNOC signed a 27-year Utilities Purchase Agreement to provide critical utilities to the TA'ZIZ Industrial Chemicals Zone in Ruwais, reinforcing TAQA's role in supporting Abu Dhabi's industrial growth through reliable and efficient utility infrastructure.

Also, TAQA Water Solutions, Etihad Water and Electricity and Saur International signed a long-term agreement with the Government of Ras Al Khaimah to develop the Emirate's largest wastewater treatment plant, with a capacity of 60,000 cubic metres per day, serving up to 300,000 people.

TAQA, EWEC, Masdar, EDF Power Solutions and Jinko Power completed a US$870.75 million (AED3.2 billion) green bond issuance to refinance the Al Dhafra Solar Photovoltaic (PV) Independent Power Plant, supporting sustainable financing and renewable energy growth.