TAQA

The beginnings of TAQA lie within Abu Dhabi's 1998 government initiative, seeking to privatize the Emirate's water and electricity sector. Following the establishment of the Abu Dhabi Water and Electricity Authority (ADWEA).{{cite web|url=https://www.taqaglobal.com/about-us/government-relations|title=Government Relations|date=|work=Abu Dhabi National Energy Company|access-date=July 3, 2019}}

TAQA was founded in June 2005 pursuant to the provisions of an Emiri Decree in 2005 as a public joint stock company. ADWEA served as the founding shareholder, holding 51% of the company.

In May 2006 TAQA appointed Peter E. Barker-Homek, an American businessman, as its first CEO. TAQA expanded quickly under the guidance of Barker-Homek, making several key acquisitions in Africa and North America.{{Cite web |url=http://tdw.globeinvestor.com/servlet/ArticleNews/print/RTGAM/20070928/wdecision0929 |title = Peter Barker-Homek: The man behind Taqa's splashy entrance |archive-url=https://archive.today/20121228223716/http://tdw.globeinvestor.com/servlet/ArticleNews/print/RTGAM/20070928/wdecision0929 |archive-date=28 December 2012 |url-status=dead}} In Canada, TAQA acquired Northrock Resources Ltd.(US$2 billion),{{Cite web|url=https://www.ameinfo.com/121764.html|title=Business Real Estate News | Technology | Travel Guide|website=www.ameinfo.com}} Pioneer Natural Resources Canada Inc (US$540 million){{Cite web|url=http://investors.pxd.com/|title=Investors | Pioneer Natural Resources Company|website=investors.pxd.com}} and PrimeWest Energy Trust (US$5 billion).{{cite news| url=https://www.cbc.ca/news/business/abu-dhabi-company-buys-primewest-energy-trust-for-5b-1.658992 | work=CBC News | title=Abu Dhabi company buys PrimeWest Energy Trust for $5B | date=24 September 2007}}

In 2008 TAQA acquired several North Sea assets from Shell U.K. Limited and Esso Exploration and Production (UK) Limited. The purchase included all equity, associated infrastructure and production licenses relating to the Tern, Eider, Cormorant North, South Cormorant, Kestrel and Pelican fields and related sub-sea satellite fields.

{{Cite news

| title = Abu Dhabi National Energy Company PJSC (TAQA) agrees to purchase north sea assets from shell u.k. ltd and esso exploration and production u.k. ltd

| publisher = Al Bawaba

| date = 2008-07-07

| url= http://www.albawaba.com/en/countries/UAE/231277

| access-date =2009-03-21}}

In late 2009, Barker-Homek relinquished his position as CEO and was replaced by Carl Sheldon. Sheldon had joined TAQA as General Counsel in 2008.{{cite web|url=https://www.khaleejtimes.com/article/20080317/ARTICLE/303179982/1036|title=Carl Sheldon joins Taqa as General Counsel|date=March 17, 2008|work=Khaleej Times|access-date=July 3, 2019}}

In 2010, Barker-Homek sued TAQA under breach of contract allegations, claiming that he was fired because he spoke out against "fraudulent and unethical practices" at TAQA and was threatened with arrest and imprisonment if he had not signed his severance agreement to leave the company. The lawsuit was dismissed by Michigans District Court Judge John Corbett O'Meara in 2011.{{cite web|url=https://www.ft.com/content/dec5a7b8-b528-11df-9af8-00144feabdc0|title=Former chief sues Abu Dhabi energy company|date=September 1, 2010|work=Financial Times|access-date=July 3, 2019}}{{cite web|url=https://www.thenational.ae/business/peter-barker-homek-in-460m-legal-claim-against-taqa-1.573389|title=Peter Barker-Homek in $460m legal claim against Taqa|date=August 31, 2010|work=The National|access-date=July 3, 2019}}{{cite web|url=https://www.reuters.com/article/us-myanmar-journalists/reuters-reporter-insists-myanmar-police-planted-secret-papers-idUSKBN1KD1O3|title=UAE's Taqa says former CEO's US lawsuit dismissed|date=September 29, 2011|work=Reuters|access-date=July 3, 2019}}

In 2010, following huge investments and an asset increase of more than 300% between 2005 and 2008 (to $23 billion), Sheldon announced a "period of consolidation" and "organic growth", focusing on operational profitability.{{cite web|url=https://www.ft.com/content/d6733ff6-5143-11df-aceb-00144feab49a|title=Taqa set for period of retrenchment|date=April 26, 2010|work=Financial Times|access-date=August 12, 2019}}

In 2012, TAQA sold their Tesla shares in order to finance investments into a power plant in the Kurdistan region of Iraq.{{cite web|url=https://www.thenational.ae/business/abu-dhabi-s-taqa-sells-tesla-stake-and-buys-into-iraq-1.365008|title=Abu Dhabi's Taqa sells Tesla stake and buys into Iraq|date=April 9, 2012|work=The National|access-date=August 12, 2019}}

In 2014 Carl Sheldon left the company and handed over his responsibilities to Edward LaFehr, who took on the newly created role of Chief Operating Officer. LaFehr was previously President of TAQA's North America business.{{cite web|url=http://www.taqaglobal.com/media-centre/press-releases/2014/26-02-2014?sc_lang=en|title=Press-Releases|date=2014|work=TaqaGlobal|access-date=February 26, 2014}} In 2016, LaFehr left TAQA and was replaced by acting COO, Al Dhaheri.{{cite web|url=https://www.thenational.ae/business/taqa-announces-new-chief-operating-officer-with-edward-lafehr-to-depart-1.170582|title=Taqa announces new chief operating officer with Edward LaFehr to depart|date=June 2, 2016|work=The National|access-date=August 12, 2019}}

In 2019, TAQA reported for Q1 a 95% decline profit because of foreign exchange losses and revaluation of its power assets in the US.{{cite web|url=https://de.reuters.com/article/taqa-results/uaes-taqa-q1-profit-sinks-hit-by-forex-losses-u-s-write-down-idUKL5N22L1BB|archive-url=https://web.archive.org/web/20200221234157/https://de.reuters.com/article/taqa-results/uaes-taqa-q1-profit-sinks-hit-by-forex-losses-u-s-write-down-idUKL5N22L1BB|url-status=dead|archive-date=February 21, 2020|title=UAE's TAQA Q1 profit sinks, hit by forex losses, U.S write down|date=May 9, 2019|work=Reuters|access-date=February 21, 2020}} In H1 2019 revenues by 5% compared to H1 2018.{{cite news|url=https://www.oilandgasmiddleeast.com/drilling-production/34736-taqa-h1-2019-revenue-up-5-led-by-oil-and-gas-business|title=TAQA H1 2019 revenue up 5%, led by oil and gas business|date=August 14, 2019 |work=OilandGas|access-date=February 21, 2020}}

In July 2020, TAQA and ADPower announced the successful completion of their merger. This created one of the largest utilities in the region. Its total assets are estimated at AED 200 billion, making Taqa the third largest listed company in the UAE and one of the top ten utilities in Europe, Middle East and Africa (EMEA).{{cite web|url=https://www.khaleejtimes.com/business/local/taqa-adpower-complete-merger-create-dh200b-giant|title=Taqa, ADPower complete merger, create Dh200b giant|date=July 2, 2020|work=Khaleej Times|accessdate=January 15, 2021}}{{cite news|url=https://www.arabianbusiness.com/energy/449066-abu-dhabis-taqa-to-offer-more-shares-in-asset-transfer-deal|title=Abu Dhabi's Taqa to offer more shares in asset-transfer deal|date=July 1, 2020|work=Arabian Business|accessdate=January 15, 2021}}

In December 2021, TAQA and Abu Dhabi National Oil Company (ADNOC) announced a $3.6 billion project to aim to reduce the carbon footprint of ADNOC's offshore production operations by more than 30%.

{{cite news| url = https://www.reuters.com/world/middle-east/uaes-adnoc-taqa-36-bln-project-slash-offshore-carbon-footprint-2021-12-22/| title = UAE's ADNOC, TAQA in $3.6 bln project to slash offshore carbon footprint| website = Reuters| date = 22 December 2021}}

Massar Solutions is a publicly traded global transportation and logistics company headquartered in UAE.{{Cite web|url=https://gulfbusiness.com/massar-solutions-plans-157m-abu-dhabi-float/|title=Massar Solutions Announces First Abu Dhabi Share Float Since 2011|date=January 5, 2015|website=Gulf Business}}{{Cite web|url=https://www.thenational.ae/business/massar-solutions-moves-focus-from-fleet-to-food-in-uae-1.26556|title=Massar Solutions moves focus from fleet to food in UAE|website=The National|date=9 July 2015 }} It was formed as a limited company in 1998. A majority of the company's stock is owned by Abu Dhabi Investment Company and Abu Dhabi National Energy Company PJSC (TAQA).{{Cite web|url=https://www.ameinfo.com/industry/travel/impact-of-covid-19-on-gcc-growth-implications-and-responses-in-mobility-industry-nvw7ukh4k9s1d36y|title=Business Real Estate News | Technology | Travel Guide|website=www.ameinfo.com}}{{Cite news|url=https://www.timeoutdubai.com/things-to-do/430481-the-best-way-to-rent-a-car-in-dubai|title=The best way to rent a car in Dubai|website=Time Out Dubai|date=21 January 2020 }} Abu Dhabi National Energy Company PJSC (TAQA) bought 49% shareholding in Massar solutions earlier called Al Wathba Company for Central Services PJSC.{{cite web|url=https://www.taqaglobal.com/sites/default/files/Q3-2008-MDA.pdf|title=Directors' Report|date=September 30, 2008|work=Abu Dhabi National Energy Company|access-date=July 3, 2019}}{{Cite web|url=https://gulfbusiness.com/massar-solutions-plans-157m-abu-dhabi-float/|title=Massar Solutions Announces First Abu Dhabi Share Float Since 2011|date=January 5, 2015|website=Gulf Business}}{{Cite news|url=https://www.itp.net/617883-massar-solutions-signs-hosting-deal-with-etisalat-digital|title=Massar Solutions signs hosting deal with Etisalat Digital|newspaper=Edge Middle East|date=3 September 2018 }}{{Cite web|url=https://www.zawya.com/mena/en/story/Al_Masaood_Automobiles_announces_partnership_with_Massar_Solutions-ZAWYA20200106090035|title=Al Masaood Automobiles announces partnership with Massar Solutions|website=www.zawya.com}} Massar Solutions started its operations in the year 1998 and manages a fleet of 16000 vehicles.{{Cite web|url=https://www.thenational.ae/business/uae-may-see-big-switch-to-diesel-vehicles-after-fuel-pricing-change-1.135247|title=UAE may see big switch to diesel vehicles after fuel pricing change|website=The National|date=22 September 2015}}{{Cite web|url=http://www.ecargolog.in/massar-solutions-celebrates-one-million-safe-man-hours/|title=Massar Solutions celebrates one million safe man-hours | Ecargolog - Asia's Cargo & Logistics News Online}}{{Cite web|url=https://www.dayofdubai.com/news/al-masaood-automobiles-announces-partnership-massar-solutions|title=Al Masaood Automobiles announces partnership with Massar Solutions|website=Day of Dubai - Dubai's Leading Information Portal | News | Jobs | Events}} In 1998, the Emirate of Abu Dhabi moved the water and electricity sector into the private sector, Massar was integrated as an exclusively owned subsidiary of Abu Dhabi Water & Electricity Authority.{{Cite web|last=|first=|date=|title=Abu Dhabi Water & Electricity Authority - Company Profile and News|url=https://www.bloomberg.com/profile/company/196119Z:UH|access-date=2020-10-06|website=www.bloomberg.com}} In the year 2005, Abu Dhabi Investment Company purchased 51% shares of Massar from Abu Dhabi Power Corporation, a subsidiary of Abu Dhabi Water & Electricity Authority.{{Cite news|url=https://www.reuters.com/article/us-taqa-m-a-adpower-idUSKBN1ZX0JB|title=Abu Dhabi Power to take control of TAQA in asset swap|newspaper=Reuters|date=February 3, 2020|via=www.reuters.com}}{{cite web |url=http://www.abudhabipower.ae/en/about.html#section_5 |title= Data |website= www.abudhabipower.ae|access-date=2020-07-19}} Abu Dhabi National Energy Company PJSC (TAQA) bought 49% shareholding in Massar.{{Citation|url=https://www.ameinfo.com/industry/travel/payperkay-car-leasing|title=Business Real Estate News | Technology | Travel Guide|website=www.ameinfo.com}}{{Cite web|url=https://www.cityam.com/book-closes-first-abu-dhabi-float-2011/|title=Massar Solutions IPO: Book closes on first Abu Dhabi float since 2011|date=January 26, 2015|website=CityAM}}{{Cite news|url=https://www.logisticsmiddleeast.com/article-12197-massar-marks-1m-man-hours-without-lost-time-incident|title=Massar marks 1m man-hours without lost-time incident|website=Logistics Middle East|date=25 January 2016 }}{{Cite web|url=https://www.thebusinessyear.com/abu-dhabi-2017/logistics/b2b|title=Logistics|website=The Business Year}}

Notable members of the board of directors of the company are as follows:

• Mohamed Hassan Al Suwaidi, Chairman{{Cite web|url=https://www.taqa.com/who-we-are/#leadership|title = Who We Are – TAQA}}
• Jasim Husain Thabet, Chief Executive Officer{{cite web|url=https://www.cbnme.com/news/taqa-announces-new-ceo-of-abu-dhabi-transmission-and-despatch-company/|title=TAQA Announces New CEO of Abu Dhabi Transmission and Despatch Company Kasun Illankoon|date=August 9, 2020|work=Construction Business News|accessdate=January 19, 2021}}
• Saeed Mubarak Al-Hajeri, Vice Chairman {{cite web|url=https://www.marketscreener.com/business-leaders/Saeed-Mubarak-Rashed-Al-Hajeri-07C0V5-E/biography/|title=Saeed Mubarak Rashed Al-Hajeri|date=|work=MarketScreener|accessdate=January 19, 2021}}{{cite web|url=https://www.thenationalnews.com/business/taqa-announces-new-chief-operating-officer-with-edward-lafehr-to-depart-1.170582|title=Taqa announces new chief operating officer with Edward LaFehr to depart|date=June 2, 2016|work=The National|accessdate=January 20, 2021}}
• Khaleefa Al Qamzi, Vice-Chairman{{cite web|url=https://www.marketscreener.com/business-leaders/Khaleefa-Al-Qamzi-0BWD5C-E/biography/|title=Khaleefa Ali Mohammad Al-Qamzi|date=|work=MarketScreener|accessdate=January 20, 2021}}
• Khaled Abdulla Al-Mass, Board Member{{cite web|url=https://www.wsj.com/market-data/quotes/AE/XADS/TAQA/company-people/executive-profile/125984883|title=Khaled Abdulla Mohamed Al-Mass|date=|work=The Wall Street Journal|accessdate=January 20, 2021}}
• Mohammed Sahoo AlSuwaidi, Board Member{{cite web|url=http://aldarshares.com/en/company/show/765/TAQA?tab=profile|title=Abu Dhabi National Energy Company (TAQA)|date=|work=Al Dar|accessdate=January 20, 2021}}
• Salem Sultan Al Daheri, Board Member

TAQA is listed on the Abu Dhabi Securities Exchange. The company is 75.1% indirectly owned by the government of Abu Dhabi. The government of Abu Dhabi through ADWEA owns 51%, ADWEA transferred 21.7% of its shareholding to the Fund for the Support of Farm Owners in the Emirate of Abu Dhabi Shareholders. 0.3% are owned by other Government related entities. The balance (25.9%) is traded publicly on the Abu Dhabi Securities Market, which is limited to Emirati nationals.{{cite web|url=https://www.moodys.com/research/Moodys-affirms-TAQAs-A3-ratings-with-stable-outlook-BCA-lowered--PR_328149|title=Rating Action: Moody's affirms TAQA's A3 ratings with stable outlook; BCA lowered to b2|date=June 23, 2015|work=Moody’s|access-date=August 12, 2019}}

Standard & Poor's has assigned A+/A-1 corporate credit ratings to TAQA.

{{Cite news

|title = Infrastructure investor Abu Dhabi National Energy Company PJSC rated 'A+/A-1'; outlook stable

|publisher = AME Info FZ LLC

|date = 2006-10-11

|url = http://www.ameinfo.com/98704.html

|access-date = 2009-03-21

|url-status = dead

|archiveurl = https://web.archive.org/web/20110607082750/http://www.ameinfo.com/98704.html

|archivedate = 7 June 2011

|df = dmy-all

}}

Moody's has assigned a rating of Aa3 to TAQA's long term foreign and local currency obligations.

{{Cite news

|title = Moody's rates Abu Dhabi National Energy Company's bonds (P)Aa3

|publisher = AME Info FZ LLC

|date = 2006-10-18

|url = http://www.ameinfo.com/99317.html

|access-date = 2009-03-21

|url-status = dead

|archiveurl = https://web.archive.org/web/20110607083013/http://www.ameinfo.com/99317.html

|archivedate = 7 June 2011

|df = dmy-all

}}

TAQA's main focus of investments is the companies engaged in power generation, water desalination, and production and storage of oil and gas. In addition, it has invested in the mining, metal, and service sector.

{{Cite news

| title = Abu Dhabi National Energy Company May Invest in Joint Development with India's Infrastructure Leasing & Financial Services Ltd.

| publisher = Al Bawaba

| date = 2006-11-26

| url= http://www.albawaba.com/en/countries/UAE/206767

| access-date =2009-03-21}}

TAQA has investments in over 60 companies. Its principal wholly owned subsidiaries include Emirates Power Company, Gulf Power Company, Arabian United Power Company, Al Shuweihat Power Company, Taweelah United Power Company, Union Power Holding Company, TAQA Bratani Limited, TAQA Energy B.V., TAQA North Ltd. and Takoradi International Company, operator of the Takoradi Power Station II. Through the acquisition of CMS Generation, TAQA has assets in the UAE, Ghana, Morocco, Saudi Arabia and India.

{{cite news

|publisher = Business Week

|url = http://news.myjoyonline.com/business/200704/3504.asp

|title = TICO shares take-over done deal

|date = 2007-04-15

|access-date = 2011-02-12

|url-status = dead

|archiveurl = https://web.archive.org/web/20110714142906/http://news.myjoyonline.com/business/200704/3504.asp

|archivedate = 14 July 2011

|df = dmy-all

}}

TAQAs business roots lie in the local power and water desalination plants in Abu Dhabi. The company supplies around 85% of the Emirates power and 90% of water demands, through the operation of eight power and desalination plants in the UAE. The plants are 54% owned by TAQA, 6% by ADWEA and 40% by various international shareholders. All productions is sold under fixed power and water purchase agreements (PWPAs) to Abu Dhabi Water and Electricity Company (ADWEC).{{cite web|url=https://www.taqaglobal.com/our-sectors/water|title=Water|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/united-arab-emirates/overview|title=United Arab Emirates|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

Further power plants operated in other countries currently consist of one plant in Morocco (85.79% ownership), one in Oman (40%), one in India (99.9%), one in Saudi Arabia (25%), one in Ghana (90%) and two in the USA (JV with output rights / 50%).{{cite web|url=https://www.taqaglobal.com/our-sectors/power|title=Power|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

TAQA owns a 40% stake in the Sohar Aluminum smelter and the connected 1,000 MW Sohar Aluminum Power Plant (SAPP), whose output is mostly used to power the aluminum plant, that has a production of around 360,000 tons of aluminum per year. The stake was acquired in 2010.

In Saudi Arabia, TAQA owns a 25% stake in the 250 MW Jubail power plant, which powers the SADAF Petrochemical Plant.{{cite web|url=https://www.taqaglobal.com/our-regions/saudi-arabia|title=Saudi Arabia|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

In addition to the Persian Gulf region, TAQA has assets in Europe, Asia and Africa and America, including investments in Canada, Netherlands, the UK and the USA. It has interests in the Tern Alpha, Eider Alpha, Cormorant North, Cormorant Alpha, Kestrel and Pelican fields and related sub-sea satellite fields in the North Sea.

Through the subsidiary Jorf Lasfar Energy Company (JLEC), TAQA supplies around 50% of Moroccos electricity demands and operation at the Jorf Lasfar power station was expanded from 1,356 to 2,056 MW capacity in 2014.{{cite web|url=https://www.taqaglobal.com/our-regions/morocco/overview|title=Morocco|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

In Ghana, TAQA operates a 220 MW power plants in Takoradi, 220 km west of Accra. The plants capacity was increased to 330 MW with construction starting in 2013 and finishing in 2015. The plant now provides around 15% of Ghanas total generation capacity.{{cite web|url=https://www.ghanaweb.com/GhanaHomePage/diaspora/TAQA-completes-Ghana-power-plant-expansion-388894|title=TAQA completes Ghana power plant expansion|date=October 20, 2015|work=GhanaWeb|access-date=August 18, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/ghana/overview|title=Ghana|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

In India, TAQA operates a 250 MW lignite-powered plant in Neyveli, Tamil Nadu, and has interest in the 100 MW Sorang hydro power project in the northern Himachal Pradesh state. The plant is powered by the Sorang Khad river. The stakes were acquired by TAQA in 2014 for around $600 million from the Indian Jaypee Group.{{cite web|url=https://blogs.wsj.com/moneybeat/2014/02/04/indias-jaypee-group-close-to-selling-power-assets-for-1-billion/|title=India's Jaypee Group Close to Selling Power Assets for $1 Billion|date=February 4, 2014|work=The Wall Street Journal|access-date=August 18, 2019}}{{cite web|url=https://www.thenational.ae/business/taqa-led-consortium-to-buy-two-power-plants-in-india-for-616m-1.259375|title=Taqa-led consortium to buy two power plants in India for $616m|date=March 2, 2014|work=The National|access-date=August 18, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/india/overview|title=India|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

TAQA holds a majority share (53.2%) and is operator of the Atrush block located 85 km northwest of Erbil in the Kurdistan region of Iraq. Initial production is expected to be approximately 30,000 barrels of oil equivalent per day.[http://www.taqaglobal.com/our-regions/iraq/overview?sc_lang=en Our regions. Iraq.] {{Archive url|url=https://web.archive.org/web/20150412045356/http://www.taqaglobal.com/our-regions/iraq/overview?sc_lang=en|date=2015-04-12}} TAQA acquired the interest for $600 million from an affiliate of Aspect Holdings in 2012.{{cite web | url=http://www.taqaglobal.com/media-centre/press-releases/2012/30-11-2012?sc_lang=en | title=TAQA – Powering a Thriving Future }}{{cite web|url=https://www.thenational.ae/business/taqa-buys-kurdistan-s-atrush-oil-block-for-600m-1.570822|title=Taqa buys Kurdistan's Atrush oil block for $600m|date=January 2, 2013|work=The National|access-date=August 18, 2019}}{{cite web|url=http://www.tradearabia.com/news/OGN_226486.html|title=Taqa buys key stake in Kurdistan oil block|date=December 1, 2012|work=TradeArabia|access-date=August 18, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/iraq/overview|title=Iraq|date=|work=Abu Dhabi National Energy Company|access-date=August 18, 2019}}

TAQA operates different assets in Canada and the United States. Operations on the continent are focused on conventional oil and gas exploration, and production and power generation. In the US, the company has invested in the Red Oak Power plant in Sayerville, New Jersey (85%) and the Lakefield wind farm in Jackson County, Minnesota.

In Canada, its investments lie within the oil and gas development of fields around Calgary and British Columbia, which began with the acquisition of Northrock Resources for $2 billion, Pioneer Natural Resources Canada (Pioneer Canada) for $540 million and the PrimeWest Energy Trust (PrimeWest) for C$4.6 billion in 2007.{{cite web|url=https://www.ft.com/content/96d68d92-0e0e-11dc-8219-000b5df10621|title=Taqa buys Northrock Resources|date=May 29, 2007|work=Financial Times|access-date=August 28, 2019}}{{cite web|url=http://www.marketwired.com/press-release/taqa-completes-acquisition-of-pioneer-canada-796865.htm|title=TAQA Completes Acquisition of Pioneer Canada|date=November 27, 2007|work=MarketWired|access-date=August 28, 2019}}{{cite web|url=https://www.khaleejtimes.com/article/20080118/ARTICLE/301189977/1036|title=TAQA North closes acquisition of PrimeWest Energy for C$4.6b|date=January 18, 2008|work=Khaleej Times|access-date=August 28, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/north-america/overview|title=North America|date=|work=Abu Dhabi National Energy Company|access-date=August 28, 2019}}

On January 3, 2013, TAQA signed an agreement with Turkey to invest about $12 billion to develop the coal fields in the Southern Turkey. This deal is considered as the second biggest Arab investment in Turkey in the energy sector.{{cite web|last=Economic times|title=Turkey inks $12 billion energy project with UAE|url=http://economictimes.indiatimes.com/news/international-business/turkey-inks-12-billion-energy-project-with-uae/articleshow/17871077.cms}} In August 2013, TAQA said it would delay the planned investment amid difficult financing conditions at a time of currency volatility in emerging markets including Turkey.{{cite news|url=https://www.arabianbusiness.com/qatar-japan-consortium-study-projects-in-turkey-583010.html|title=Qatar-Japan consortium to study projects in Turkey|date=February 22, 2015|work=Arabian Business|access-date=August 12, 2019}}{{cite web|url=https://www.ft.com/content/841452d2-17b0-11e2-8cbe-00144feabdc0|title=Economic ties: Turkey turns to the Gulf for funding|date=November 21, 2012|work=Financial Times|access-date=August 28, 2019}}

TAQA started operations in Europe by acquiring different gas exploration and production (E&P) assets from BP Netherlands in 2007. Further investments followed in the UK and Scotland in subsequent years (2008-2011).{{cite web|url=https://www.albawaba.com/business/abu-dhabi-national-energy-company-assumes-operation-bp-netherlands-gas-exploration-and-prod|title=Abu Dhabi National Energy Company assumes operation of BP Netherlands Gas Exploration and Production business|date=February 4, 2007|work=Al Bawaba|access-date=August 28, 2019}}

In August 2009, it bought a 15% interest in North Sea assets from the L11b Group and took over the operatorship of the L11b-A production platform.

{{Cite news

| title = Taqa snaps up North Sea slice

| newspaper = Upstream Online

| publisher = NHST Media Group

| date = 4 August 2009

| url= http://www.upstreamonline.com/live/article185023.ece

| access-date =6 August 2009}}

{{cite web|url=http://www.arabianoilandgas.com/article-5957-taqa-buys-15-stake-in-north-sea-gas-platform/|title=TAQA buys 15% stake in North Sea gas platform|date=August 4, 2009|work=Arabian Oil and Gas|access-date=August 28, 2019}}

On 3 August 2009, TAQA took over operatorship of the North Sea Brent Oil Pipelines System.

{{Cite news

| title = TAQA takes Brent pipe reins

| newspaper = Upstream Online

| publisher = NHST Media Group

| date = 3 August 2009

| url= http://www.upstreamonline.com/live/article184971.ece

| access-date =6 August 2009}}

{{Cite news

| title = Abu Dhabi firm says becomes N. Sea Brent operator

| author = Christopher Johnson, Barbara Lewis

| publisher = Reuters

| date = 3 August 2009

| url= http://uk.reuters.com/articlePrint?articleId=UKL32658520090803

| archive-url= https://archive.today/20130104172048/http://uk.reuters.com/articlePrint?articleId=UKL32658520090803

| url-status= dead

| archive-date= 4 January 2013

| access-date =6 August 2009}}

In addition, in 2006 TAQA acquired BP Nederland Energie B.V. Through this acquisition, TAQA now holds onshore and off-shore production assets, including the Piek Gas Installatie facility in Alkmaar, the project of the largest offshore LNG Regas facilities utilizing the depleted field P15/P18 just off the port of Rotterdam, and partnership in the Bergermeer gas storage project.

{{Cite news

| title = Abu Dhabi National Energy Company assumes operation of BP Netherlands Gas Exploration and Production business

| publisher = Al Bawaba

| date = 2007-02-04

| url= http://www.albawaba.com/en/countries/UAE/209206

| access-date =2009-03-21}}

{{cite news

| publisher= Zawya

| url= http://www.zawya.com/story.cfm/sidZAWYA20081205113944

| title = TAQA and Gazprom export sign MoU to Partner on Dutch Bergermeer Gas Storage

| date = 2008-12-05

| access-date=2009-03-21}}

TAQA operates Gas Storage Bergermeer, which is Europes largest, open-access, gas storage facility with 46-terawatt-hours (TWh) of seasonal storage capacity. The facility is operated in cooperation with Gazprom.{{cite web|url=https://www.euro-petrole.com/taqa-and-gazprom-export-sign-mou-to-partner-on-dutch-bergermeer-gas-storage-n-i-3177|title=TAQA and Gazprom export sign MoU to Partner on Dutch Bergermeer Gas Storage|date=September 12, 2008|work=Euro-Petrole|access-date=August 28, 2019}}{{cite web|url=https://www.taqaglobal.com/our-regions/the-netherlands/overview|title=The Netherlands|date=|work=Abu Dhabi National Energy Company|access-date=August 28, 2019}}

In November 2012, BP sold its stakes in several U.K North Sea oil and gas fields (with a production capacity of {{convert|21000|oilbbl/d|m3/d}} equivalent) to TAQA for just over $1 billion.{{cite web|url=https://www.wsj.com/articles/SB10001424127887324178904578341720779252446|title=RWE to Sell E&P Division as Profit Falls|date=March 5, 2013|work=The Wall Street Journal|access-date=August 28, 2019}}

TAQAs production in 2016 totaled 17,410 megawatt in power generation, 917 million gallons per day in water desalination and {{convert|137300|oilbbl/d|m3/d}} equivalent.{{cite web|url=https://www.taqaglobal.com/about-us/taqa-glance|title=TAQA AT Glance|date=|work=Abu Dhabi National Energy Company|access-date=August 28, 2019}}

• Economy of the United Arab Emirates
• Abu Dhabi Developmental Holding Company

{{Reflist}}

• [https://www.taqaglobal.com/ Company website]

{{Portal bar|United Arab Emirates|Energy}}

{{Use dmy dates|date=March 2016}}

Category:Companies listed on the Abu Dhabi Securities Exchange

Category:Electric power companies of the United Arab Emirates

Category:Oil and gas companies of the United Arab Emirates

Category:Companies based in Abu Dhabi

Category:Energy companies established in 2005

Category:Emirati companies established in 2005

Category:Government-owned companies of Abu Dhabi