Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utility companies in Europe, the Middle East and Africa, has announced the sale of its 100 percent stake in TAQA Neyveli Power Company Private Limited to India-based MEIL Energy Private Limited, for a sale consideration of $105 million (AED 387 million).
TAQA Neyveli owns and operates a 250 MW lignite-fired power plant located in the state of Tamil Nadu, India. As a result of this transaction, TAQA has fully exited its interest in TAQA Neyveli as the company sharpens its focus on low-carbon, highly flexible gas-fired power generation and, through its stake in Masdar, renewable energy investments.
Farid Al Awlaqi CEO – TAQA Generation
“This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix. It aligns with TAQA’s broader efforts to transition towards cleaner energy solutions, reduce long-term emissions, and respond to the changing dynamics of global energy demands. Our focus remains on developing flexible, efficient and low-carbon power generation assets that support sustainable growth and the energy transition.”
Over the past year, TAQA’s Generation business has made several significant strategic growth investments as part of its long-term strategy to develop leading low-carbon power and water projects. In the UAE, TAQA recently unveiled plans for an additional 1 GW of gas-fired capacity, along with Masdar’s ’round-the-clock’ giga-project, which, upon completion, will become the largest integrated solar and battery energy storage system and will be capable of delivering 1 gigawatt (GW) of baseload renewable energy around the clock.
TAQA’s clear focus is on investing in efficient, lower-emission technologies that support energy security, enable renewable energy integration, and address growing industrial demand. The divestment of TAQA Neyveli is consistent with this direction, allowing the company to focus on technologies that advance its 2030 Corporate Strategy for sustainable and profitable growth.
