Abu Dhabi National Energy Company (TAQA) has agreed to acquire Sustainable Water Solutions Holding Company (SWS Holding) for $462.8 million.
Through this acquisition, TAQA seeks to expand its support for the UAE's net-zero ambitions by bringing together SWS Holding's recycled water management with TAQA's water desalination activity.
The deal is expected to be completed this year, subject to regulatory approvals, and will raise TAQA's regulated asset base by more than 20%, adding around $4.4 billion to its existing regulated asset value.
The UAE is prioritizing clean energy projects to cut emissions as it aims to achieve net-zero emissions by 2050, with plans to invest $163 billion in clean and renewable energy sources over the next three decades.
