Taqa Set for ADX Delisting Following Complete Acquisition by L’imad

Abu Dhabi National Energy Company, also known as Taqa, is set to be delisted from the Abu Dhabi Securities Exchange after Abu Dhabi sovereign wealth fund L’imad successfully finalized an agreement to acquire 100 per cent of Taqa’s shares.

L’imad secured the remaining Taqa shares via its subsidiary Abu Dhabi Power Corporation, building upon a previous acquisition of 98.12 per cent of the issued share capital to finalize the transaction. In a statement released to the ADX on Wednesday, Taqa announced that it is currently awaiting the finalization of regulatory approvals to proceed with the delisting of its shares.

Founded in 2005, Taqa operates as a diversified utilities and energy enterprise with holdings spanning power and water generation, water treatment and reuse, transmission and distribution, alongside upstream and midstream oil and gas activities. The company maintains asset ownership or management across 26 countries.

L’imad, established last year, continues to expand its investment portfolio. Earlier in the month, the fund declared its objective to acquire AD Ports Group entirely through its wholly owned subsidiary ADQ, which currently holds a 75.42 per cent stake in AD Ports Group's shares. Furthermore, the fund acquired a substantial stake in Abu Dhabi real estate company Modon Holding from IHC, the UAE's largest listed company, during the previous year.

Internationally, L’imad partnered with a coalition of global investors—including Adnoc, BlackRock’s Global Infrastructure Partners (GIP), and Singapore’s Temasek—in May to deploy $30 billion in infrastructure investments across the Gulf and Central Asia. The consortium intends to secure a mix of equity and debt capital to construct an investment portfolio designed to yield long-term returns.

Concurrently, Taqa has been actively expanding its operations. Earlier in the year, Adnoc and Taqa formalized a 27-year agreement to deliver essential utilities to the Ta'ziz Industrial Chemicals Zone located in Ruwais. Under the terms of the agreement, Adnoc and Taqa will collaborate on the development of the central utilities project, encompassing electricity grid connections, steam generation, process cooling, as well as water and wastewater utilities, in support of Ta'ziz’s chemicals and transition fuels initiatives. Additionally, the company finalized a financial agreement for the Dh3.6 billion Al Dhafra power plant in December 2025 to provide electricity to data centre projects throughout the UAE.