TAQA has a 60% interest in IPP and IWPP power generation and water desalination plants with the remaining 40% held by various international partners.
In May 2019, TAQA’s power and water team gained majority seats on the boards of the independent water and power producers (IWPPs), allowing TAQA to have full oversight of the assets’ performance and to exercise its rights and governance. Each of these plants is managed, operated and maintained by international partners under long-term operations and maintenance agreements.
The plants sell electricity and water production under power and water purchase agreements (PWPAs) to Emirates Water and Electricity Company (EWEC). Following the transaction closure with ADPower in July 2020, TAQA has full ownership of its transmission and distribution facilities, including Abu Dhabi Transmission & Despatch Company (TRANSCO), Abu Dhabi Distribution Company (ADDC) and Al Ain Distribution Company (AADC). TAQA assumed 60% ownership in Shuweihat S3 power plant, Noor Abu Dhabi Photovoltaic Independent Power Project and Mirfa International Power and Water Plant, 100% ownership of Al Ain Power Station and Madinat Zayed Power Plant and 20% ownership of the Tawleeah Reverse Osmosis Desalination Plant, which is currently projected to come online in 2022. In Oman, TAQA has a 40% interest in Sohar Aluminium, and in Saudi Arabia, TAQA owns a 25% interest in Jubail Power Plant with National Power Company holding the remaining 75% interest.