The Abu Dhabi National Energy Company (TAQA) is actively seeking acquisition opportunities in the United States and other regions to enhance its international presence and achieve its growth targets. This information was reported by Reuters.

TAQA, which is primarily owned by ADPower, a subsidiary of the Abu Dhabi sovereign wealth fund ADQ, has been diversifying its investments across various markets, including the US. CEO Jasim Husain Thabet indicated that the company would pursue the right opportunities as they arise, stating, “If the right opportunity presents itself for TAQA, we would be pursuing that.”

In 2024, TAQA’s Masdar unit took a significant step by acquiring a 50% stake in the US renewable energy company Terra-Gen. Additionally, the UAE has announced plans to boost its energy investments in the US to a substantial $440 billion by 2034. This aligns with US President Donald Trump’s goals to secure major business agreements during his Gulf tour scheduled for May 2025.

TAQA has laid out a comprehensive strategy to invest $20 billion from 2023 to 2030, aiming to expand its energy capacity from the current 56 GW to 150 GW. Thabet expressed a particular interest in acquiring fully integrated companies that encompass generation, networks, and a growth pipeline.

While TAQA is keeping an eye on potential investment opportunities in Syria due to the recent lifting of US sanctions, Thabet believes it is still too early to commit and will continue to monitor the situation closely.

After a successful bond sale in October 2024 that raised $1.75 billion, TAQA stated it does not require immediate additional debt but may consider market options if a significant merger and acquisition (M&A) deal presents itself.

Thabet clarified that, contrary to a report from March 2025, TAQA has not been in talks with shareholders of the Spanish utility Naturgy regarding an acquisition, following prior negotiations that were abandoned in the summer of 2024. He did not disclose the reasons behind the breakdown of discussions with investor Criteria over its 26.7% stake in Naturgy.

In April 2024, TAQA also expanded its portfolio by acquiring Transmission Investment, a UK-based company specializing in electricity transmission development and services, further enhancing its presence in the offshore electricity transmission sector.