TAQA nine-month net income $1.17 bn

Abu Dhabi National Energy Company (TAQA) on Wednesday announced a net income of AED4.3 billion ($1.17 billion), marking an increase of AED3 billion ($0.82 billion), with large contribution from oil and gas sector.
For the first nine months of 2021, the total revenue of the company was AED34.3 billion ($9.34 billion), which is 11 percent higher than the same period last year.
The EBITDA was AED14.4 billion ($3.92 billion), an increase of 20 percent that was attributed to higher revenues and improved income from associates, partially offset by higher expenses.
After the financial results were approved, TAQA’s Board of Directors announced an interim cash dividend of AED618 million ($168.25 million).
Jasim Husain Thabet, TAQA’s CEO and MD, said: “Our recent announcement of the development of the Tanajib power and water project with Saudi Aramco and Marubeni showcase our tangible progress on our strategy to add up to 15 GW of international generation capacity by 2030.”