Abu Dhabi National Energy Company, known as Taqa, is set to be delisted from the Abu Dhabi Securities Exchange after the emirate’s sovereign wealth fund L’imad completed a deal to acquire 100 per cent of the company’s shares. The fund bought the remaining stock through its subsidiary Abu Dhabi Power Corporation, following an earlier purchase of 98.12 per cent of the issued share capital. Taqa said in a statement to the exchange on Wednesday that it is awaiting regulatory approvals to complete the delisting.
Established in 2005, Taqa is a diversified utilities and energy group with interests spanning power and water generation, water treatment and reuse, transmission and distribution, and upstream and midstream oil and gas. It owns or manages assets in 26 countries, making it one of the region’s larger integrated utilities players.
The acquisition is the latest in a rapid expansion by L’imad, which was set up only last year. Earlier this month the fund announced its intention to buy AD Ports Group in full through its wholly owned subsidiary ADQ, which currently holds 75.42 per cent of the ports operator. Last year it also acquired a significant stake in the Abu Dhabi real estate firm Modon Holding from IHC, the largest listed company in the UAE.
L’imad has been building its presence abroad as well. In May it joined a group of global investors, including Adnoc, BlackRock’s Global Infrastructure Partners and Singapore’s Temasek, in a plan to make 30 billion dollars of infrastructure investments across the Gulf and Central Asia, combining equity and debt to build a long-term portfolio.
Taqa, for its part, has continued to grow its own operations. Earlier this year it signed a 27-year agreement with Adnoc to supply utilities to the Ta’ziz Industrial Chemicals Zone in Ruwais, jointly developing the electricity connection, steam, cooling and water systems. In December 2025 it closed financing for the 3.6 billion dirham Al Dhafra power plant, which will supply electricity to data centre projects in the UAE.
