Enhances TAQA’s position as a global low-carbon power & water leader with an integrated water platform acquisition
Expands water footprint to 10 countries, set to add 171 MIGD of desalination capacity, fast-tracking TAQA’s 2030 water targets
GS Inima’s 2024 EBITDA of EUR 106 million on EUR 389 million in revenue reflects the quality and scale of its earnings
Abu Dhabi National Energy Company PJSC, one of the largest listed integrated utilities in Europe, the Middle East and Africa, today announced that it has signed an agreement to acquire a 100% interest in GS Inima, a global leader in water treatment and water desalination, from GS Engineering & Construction. The transaction, valued at approximately USD 1.2 billion, will bring GS Inima fully into TAQA’s ownership and significantly accelerate the Group’s international water growth strategy.
The acquisition marks a pivotal step in TAQA’s strategy to establish a world-class, integrated global water platform. Headquartered in Madrid, GS Inima operates approximately 50 active projects, including approximately 30 long-term public-private partnerships (PPPs), across a portfolio spanning water desalination and water treatment (including industrial water and wastewater treatment technologies). With a presence in ten countries, including Spain, Brazil, Mexico, the United States, and Oman, the company provides TAQA with immediate access to high-growth markets across Europe, Latin America, and Asia, reinforcing its position as a leading international utility.
By integrating GS Inima’s capabilities, TAQA will significantly strengthen its position as a global low-carbon water champion, with end-to-end expertise across development, engineering, procurement and construction management (EPCm), and operations and maintenance (O&M). The acquisition will immediately add approximately 171 million imperial gallons per day (MIGD) of desalination capacity to TAQA’s 1,250 MIGD portfolio, and helps advance its goal to source two-thirds of its water desalination capacity from energy-efficient reverse osmosis (RO) technology by 2030 through the addition of RO plants. GS Inima’s integrated offering across the water value chain will contribute an additional 1.2 million cubic meters per day (264 MIGD) of drinking water capacity and 2.6 million cubic meters per day (572 MIGD) of wastewater and industrial water treatment capacity to TAQA’s global water platform, as well as a water management business serving 1.3 million inhabitants.
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