Shareholders of Abu Dhabi National Energy Company, better known as Taqa, have elected a new board, with Jassem Al Zaabi as the new chairman and Dr Sultan Al Jaber as its vice chairman.
The new board will work closely with Taqa’s executive management team to “oversee the continued delivery of the company’s strategy,” including its international expansion, the company said in a statement on Friday to Abu Dhabi Securities Exchange, where its shares are traded.
During the company’s annual general assembly, shareholders also approved the board’s recommendation for a final cash dividend of 2.20 fils per share for the fourth quarter of 2025, comprising a fixed dividend of 1.5 fils per share and a variable dividend of 0.70 fils per share.
This takes the total dividend for the financial year ending December 31 to 4.45 fils per share, equivalent to about Dh5 billion, including the interim dividends declared in May, August and November 2025.
Established in 2005, Taqa is a diversified utilities and energy group with investments in power and water generation, water treatment and reuse, transmission and distribution, and upstream and midstream oil and gas operations. It owns or manages assets in 26 countries.
The company announced several new deals in recent months, including a 27-year agreement to supply critical utilities to the Ta'ziz Industrial Chemicals Zone in Ruwais in partnership with Adnoc.
As part of the deal, Adnoc and Taqa will jointly develop the central utilities project, including the electricity grid connection, steam production, process cooling, and water and wastewater utilities, to support Ta'ziz’s chemicals and transition fuels projects, they said in January.
In December, the company also closed a finance deal for the Dh3.6 billion Al Dhafra power plant that will supply electricity to data centre projects in the UAE.
The project, which has a total capacity of 1 gigawatt, is 85 per cent funded through debt financing, with local and international banks supporting the transaction.
The company also acquired Emirates Global Aluminium’s water and power generation assets in Al Taweelah for $1.9 billion in partnership with Dubal Holding in November.
Al Taweelah power plant, with a capacity of 3.1 gigawatts, is the third largest in Abu Dhabi. It also has a desalination capacity of 23.6 million litres per day.
