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TAQA in talks to buy power plants in Abu Dhabi, plans green bonds, says CFO

TAQA in talks to buy power plants in Abu Dhabi, plans green bonds, says CFO Reuters 3 hrs ago DUBAI, May 5 (Reuters) - Abu Dhabi National Energy Company (TAQA) is in talks to buy power plants in the United Arab Emirates and could issue debut green bonds in 2022 as it seeks to expand renewables generation, the finance chief said. Abu Dhabi-listed TAQA is looking at ways to expand after a state-driven transaction last year boosted its balance sheet and increased total assets to more than $50 billion. Chief Financial Officer Steve Ridlington told Reuters the company was in early talks to buy power plants in Abu Dhabi, the largest and wealthiest of seven emirates making up the UAE.

United arab emiratesAbu dhabiAbuz abyDavide barbusciaEdmund blairSteve ridlingtonAbu dhabi national energy companyAbu dhabi power corporationDhabi national energy companyFinancial officer steve ridlingtonEmirates global aluminiumDhabi power corporationஒன்றுபட்டது அரபு அமீரகங்கள்எட்மண்ட் பிளேயர்தபி தேசிய ஆற்றல் நிறுவனம்அமீரகங்கள் உலகளாவிய அலுமினியம்

Taqa swings to profit in first quarter on higher oil prices and economic recovery

The company declared an interim cash dividend of Dh618m for the first quarter. Taqa s earnings before interest, tax, depreciation and amortisation rose 12 per cent, due to higher revenue, lower operating expenses and higher income from associates. Taqa, which also operates oil and gas assets, reached average production volumes of 120 million barrels of oil equivalent per day, supported by higher production in Europe. On Sunday, the company raised $1.5bn through a dual-tranche bond issue to fund its low-carbon growth plans and buy back some of its outstanding corporate bonds. In 2021, we hit the ground running with our recent bond issuance which received strong endorsement from investors around the world, showcasing Taqa s investment attractiveness and our commitment to delivering on our strategy, said Mr Thabet.

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Abu Dhabi s Taqa raises $1 5bn through bond sale to fund growth

The utility company has also offered to buy back corporate bonds maturing in 2021 and 2023

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Abu Dhabi s Taqa to invest Dh40bn and expand its push into renewables as part of 2030 strategy

Abu Dhabi s Taqa to invest Dh40bn and expand its push into renewables as part of 2030 strategy
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Abuz abyUnited arab emiratesAbu dhabiMohamed al suwaidiJasim thabetAbu dhabi energy servicesAbu dhabi national energy companyAbu dhabi power corporationAbu dhabi energyஒன்றுபட்டது அரபு அமீரகங்கள்

Abu Dhabi s TAQA to invest an additional Dh40 billion in its UAE regulated asset base

Abu Dhabi s TAQA to invest an additional Dh40 billion in its UAE regulated asset base
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Gulf newsUnited arab emiratesAbu dhabiAbuz abyMohamed hassan al suwaidiJasim husain thabetAbu dhabi energy servicesAbu dhabi power corporation adpowerAbu dhabi national energy companyOil gasImage creditAbu dhabi power corporationAsset baseChief executive officerவளைகுடா செய்திஒன்றுபட்டது அரபு அமீரகங்கள்