TAQA Enhances Global Water Reach with $1.2 Billion GS Inima Acquisition

TAQA Expands Global Water Platform through $1.2 Billion Acquisition of GS Inima

In a significant move to bolster its global water capabilities, the Abu Dhabi National Energy Company PJSC, known as TAQA, has announced its agreement to acquire GS Inima, a leader in water treatment and desalination. This strategic acquisition, which is valued at approximately USD 1.2 billion, will allow TAQA to expand its international water footprint and accelerate its growth strategy in this vital sector.

A Strategic Growth Initiative

TAQA's acquisition of GS Inima is a pivotal step in its ambition to establish a world-class, integrated global water platform. This company, headquartered in Madrid, has nearly 50 active projects, including about 30 long-term public-private partnerships (PPPs). With operations spanning across ten countries such as Spain, Brazil, Mexico, the United States, and Oman, GS Inima provides TAQA with valuable access to rapidly growing markets across Europe, Latin America, and Asia. This strategic positioning reinforces TAQA’s status as a leading international utility operator.

Enhanced Desalination Capabilities

Completing the acquisition will result in an impressive increase in TAQA’s desalination capacity. The integration of GS Inima will directly add around 171 million imperial gallons per day (MIGD) to TAQA's existing 1,250 MIGD portfolio. This substantial increase helps TAQA progress towards its target of sourcing two-thirds of its water desalination capacity from energy-efficient reverse osmosis (RO) technology by 2030, a method recognized for its sustainability and efficiency. The deal promises a further boost to drinking water capacities, with GS Inima’s assets contributing an additional 1.2 million cubic meters per day of potable water and significant treatment capacities for wastewater and industrial water.

Financial Implications and Stability

Financially, GS Inima is poised to positively impact TAQA’s portfolio. The company reported an EBITDA of EUR 106 million in 2024 on revenues of EUR 389 million, showcasing its earning potential and operational reliability. Most of GS Inima's portfolio operates under long-term concession agreements that include mechanisms for inflation adjustments, ensuring stable revenue streams. Such predictability is crucial for long-term planning and investor confidence.

Leveraging Technology for Operational Efficiency

One of the most notable aspects of the acquisition is GS Inima's focus on advanced digital technologies and research and development. These innovations are expected to unlock further value for TAQA, enhancing its operational efficiencies and technical capabilities across the water platform. This could facilitate the scaling of smart water infrastructure, a part of TAQA’s broader strategy that combines project wins with targeted acquisitions.

Commitment to Sustainable Water Solutions

Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director, emphasized that this acquisition heralds a transformative phase in TAQA's growth and water strategy. He stated, “GS Inima brings proven operational and technical strength on a global scale, and we are proud to welcome them into the Group. Together, we will accelerate our ambition to become a leading international water player.”

Building on Recent Progress

This acquisition aligns with TAQA's ongoing commitment to enhancing its water capabilities both domestically and internationally. The company has previously expanded its wastewater and recycled water operations through the purchase of Sustainable Water Solutions Holding, now operating as TAQA Water Solutions. Additionally, TAQA has engaged in significant infrastructure projects to ensure long-term water security in critical regions such as Morocco and Uzbekistan.

Regulatory Approvals Needed

The proposed transaction is subject to regulatory approvals and other customary conditions, and it is expected to close in 2026. This strategic move positions TAQA as a proactive entity in the global energy and utility landscape, paving the way for innovative, low-carbon water solutions that are crucial for communities worldwide.

About TAQA

Established in 2005 and listed on the Abu Dhabi Securities Exchange, TAQA is a diversified utilities and energy group based in Abu Dhabi. With significant investments in power and water sectors across 25 countries, TAQA is committed to developing sustainable solutions in energy and utility management. To learn more about TAQA's initiatives and the impact of this acquisition, visit www.taqa.com.

TAQA is poised to lead the charge in the global transition to low-carbon energy solutions, especially in the water sector, as seen with this landmark acquisition.