Abu Dhabi - Mubasher: Abu Dhabi National Energy Company (TAQA) has sold its entire stake in TAQA Neyveli Power Company Private Limited to India-based MEIL Energy Private Limited for INR 9.26 billion (around AED 387 million).
The deal marks TAQA’s full exit from TAQA Neyveli, operator of a 250-megawatt (MW) lignite-fired power plant in Tamil Nadu, according to a press release.
The move supports TAQA’s strategy to streamline its portfolio and focus on low-carbon, flexible gas and renewable energy projects via Masdar.
Farid Al Awlaqi, CEO of TAQA’s Generation business, said: “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,” Al Awlaqi highlighted.
The transaction follows TAQA’s recent expansion across the UAE, Morocco, and Saudi Arabia, where it is developing new gas-fired, renewable, and water projects.
As of 30 September 2025, the company’s total generation capacity rose to about 70 GW from 21 GW in 2020. It is about to hit its target of 2030 target of 150 GW, with two-thirds coming from renewables through its stake in Masdar.
Last August, TAQA signed a deal to fully acquire GS Inima, a global water treatment and desalination leader, from GS Engineering & Construction.
