Abu Dhabi National Energy Company (TAQA) has confirmed the composition of a new Board of Directors following its Annual General Assembly, with H.E. Jassem Mohammed Bu Ataba Al Zaabi appointed as the new Chairman. The board, elected for a three-year term, comprises 11 members, the majority of whom are non-executive and independent. H.E. Dr. Sultan Ahmed Al Jaber has been appointed Vice Chairman.
"TAQA has established itself as one of the region's leading integrated utilities companies, playing a vital role in supporting Abu Dhabi's sustainable economic growth and energy transition," said the new Chairman. "I look forward to working with the Board to build on the Company's strong foundations, accelerate its strategic ambitions and continue delivering sustainable long-term value for our shareholders and stakeholders."
The governance announcements came alongside the release of TAQA's full-year 2025 financial results, which reflected a year of significant strategic expansion. The Group recorded revenues of AED 54.8 billion, broadly flat year-on-year, as strong performance in its utilities business offset lower contributions from the Oil & Gas segment, which was impacted by weaker commodity prices and planned production cessations in the UK North Sea. EBITDA reached AED 20.7 billion and net income rose 5.6% to AED 7.5 billion. Capital expenditure grew 48.4% to AED 14.5 billion, driven by accelerated investment in power, water and transmission infrastructure.
Key operational milestones in 2025 included the signed agreements for large-scale integrated projects in Morocco, representing a potential investment of approximately USD 14 billion, and the agreement to acquire water company GS Inima for around USD 1.2 billion, which will add 171 million imperial gallons per day of desalination capacity to the Group's portfolio.
"Our gross generation capacity now exceeds 70 GW, up from 24 GW in 2020, with renewables representing 63.8% of our portfolio, and over 40% of our desalination capacity now uses efficient reverse osmosis technology," said Jasim Husain Thabet, Group Chief Executive Officer and Managing Director.
In a separate development, TAQA announced that Dr. Nader Assad Bin Taher has been appointed interim Chief Executive Officer of TAQA Water Solutions, effective 3 March 2026, following the resignation of Eng. Ahmed Al Shamsi. Dr. Bin Taher, currently Chief Asset Management & Capital Projects Officer at the subsidiary, will lead the business while a permanent appointment is sought.
