Abu Dhabi Fund L’IMAD Increases TAQA Stake to 93.4%

L’IMAD, an investment entity owned by Abu Dhabi Developmental Holding Company (ADQ), has increased its equity stake in Abu Dhabi National Energy Company (TAQA) by 2.5%. The acquisition further consolidates the government-linked fund’s control over the emirate’s primary utility provider. Consolidation of Utility Assets The transaction brings the total combined shareholding of ADQ and its subsidiaries in TAQA to approximately 93.4%. The increase was confirmed in a regulatory disclosure on the Abu Dhabi Securities Exchange (ADX), where TAQA is listed. This move reduces the available free float of the company, which remains one of the largest listed integrated utility firms in the Middle East. TAQA, established in 2005, operates extensive power and water assets across the United Arab Emirates and maintains operations in 11 countries, including Canada, Ghana, and the United Kingdom. The company is currently managing several large-scale desalination and renewable energy projects in Abu Dhabi, such as the Al Dhafra Solar PV plant. Strategic Ownership Structure The stake increase follows a period of restructuring within Abu Dhabi’s state-owned enterprises. ADQ has centralized key…