TAQA and DUBAL Holding have signed an agreement to acquire EGA's Al Taweelah power and water assets for approximately USD $1.9 billion, aiming to bolster sustainable energy production and enhance the UAE's renewable energy initiatives.

Information on the Target

The target of this significant acquisition is the power and water generation assets of Emirates Global Aluminium (EGA) located in Al Taweelah. These assets include a state-of-the-art power plant with a capacity of 3.1 gigawatts (GW) and a desalination facility capable of producing 6.25 million imperial gallons of water per day. These facilities utilize advanced combined-cycle gas turbine technology and reverse osmosis desalination techniques, positioning EGA among the largest and most efficient energy producers in Abu Dhabi.

Through this deal, TAQA and DUBAL Holding will not only gain access to EGA’s key assets but also enhance their operational capabilities and strategic positioning within the energy sector. The joint venture aims to maximize efficiency and support the ongoing transition to cleaner energy sources in line with Abu Dhabi’s sustainability objectives.

Industry Overview in the UAE

The energy sector in the United Arab Emirates (UAE) is undergoing a transformative shift towards sustainability and decarbonization. The UAE has established a strong commitment to reducing greenhouse gas emissions