Abu Dhabi National Energy Company, known as Taqa, will be delisted from the Abu Dhabi Securities Exchange as Abu Dhabi sovereign wealth fund L’imad has completed a deal to buy 100 per cent of Taqa’s shares.
L’imad acquired the remaining Taqa shares through its subsidiary Abu Dhabi Power Corporation, following an earlier purchase of 98.12 per cent of the issued share capital, to complete the deal.
Taqa is waiting for the completion of regulatory approvals to delist its shares, it said in a statement on Wednesday to ADX.
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.
L’imad, set up last year, continues to boost its portfolio. Earlier this month, it announced its intention to buy AD Ports Group in full through its wholly owned subsidiary ADQ. L'imad, through ADQ, currently owns 75.42 per cent of AD Ports Group's shares.
Last year, the fund also acquired a significant stake in Abu Dhabi real estate company Modon Holding from IHC, the largest listed company in the UAE.
On the foreign investment front, L'imad joined a team of global investors including Adnoc, BlackRock’s Global Infrastructure Partners (GIP) and Singapore’s Temasek in May to make infrastructure investments of $30 billion across the Gulf and Central Asia. The consortium plans to raise a combination of equity and debt capital to build an investment portfolio that will generate long-term returns.
Taqa has also been boosting its operations. Earlier this year, Adnoc and Taqa signed a 27-year agreement to supply critical utilities to the Ta'ziz Industrial Chemicals Zone in Ruwais.
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 waste water utilities, to support Ta'ziz’s chemicals and transition fuels projects.
In December 2025, 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.
