Abu Dhabi, UAE– Abu Dhabi National Energy Company (TAQA) has acquired a stake in Taweelah B Independent Power and Water Plant and taken up its Operations and Maintenance.
As part of a transaction valued at $65 million (approx. AED239 million), TAQA has completed its acquisition from BTU Power Company and its liquidators of BTU’s entire interest in the Taweelah B in Abu Dhabi.
TAQA acquired an additional 10 percent ownership stake in the owner of the Taweelah B IWPP – Taweelah Asia Power Company (TAPCO), increasing its overall ownership stake in TAPCO to 70 percent.
In addition, TAQA acquired a 25 percent ownership stake in Asia Gulf Power Service Company Limited (the O&M contractor to TAPCO).
The Taweelah B Independent Power and Water Plant, owned and operated by TAPCO, has 2.2 GW of gross installed power generation capacity with 162 million imperial gallons per day of gross installed water desalination capacity.