Abu Dhabi National Energy Company (TAQA) has announced an agreement to acquire a 100% stake in GS Inima, a Spain-headquartered water treatment and desalination company, from GS Engineering & Construction, reports WAM (Emirates News Agency).
The transaction, valued at approximately US$1.2 billion, will bring GS Inima fully under TAQA’s ownership and forms part of the company’s strategy to expand its international water platform.
GS Inima operates around 50 active projects, including 30 long-term public-private partnerships, in water desalination and treatment, covering both industrial and wastewater technologies. With operations across ten countries, including Spain, Brazil, Mexico, the United States, and Oman. The company gives TAQA access to new markets in Europe, Latin America, and Asia.
The acquisition will add about 171 million imperial gallons per day (MIGD) of desalination capacity to TAQA’s existing 1,250 MIGD portfolio. It will also contribute 1.2 million cubic meters per day of drinking water capacity and 2.6 million cubic meters per day of wastewater and industrial treatment capacity.
Financially, GS Inima generated approximately 389 million euros in revenue and 106 million euros in EBITDA in 2024. Most of its portfolio operates under long-term concession agreements with inflation-adjustment mechanisms, offering predictable cash flows.
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, said: “This acquisition represents a transformational step in TAQA’s growth and water strategy. GS Inima brings proven operational and technical strength on a global scale, and we are proud to welcome them into the Group.
“Together, we will accelerate our ambition to become a leading international water player, expanding our reach and capabilities across strategic growth markets in the Middle East, Europe, and the Americas, while delivering innovative, low-carbon water solutions to communities around the world.”
TAQA stated that GS Inima’s digital technologies and research focus are expected to enhance operational efficiencies. The deal is also aligned with TAQA’s plan to source two-thirds of its desalination capacity from energy-efficient reverse osmosis technology by 2030.
The acquisition follows other recent moves by TAQA to broaden its water capabilities, including the purchase of Sustainable Water Solutions Holding in the UAE and commitments to projects in Morocco and Uzbekistan.
The transaction remains subject to regulatory approvals and other customary closing conditions, with completion expected in 2026.
