TAQA to sell 250MW lignite power plant to India’s MEIL Energy

Core Insights - Abu Dhabi National Energy Company (TAQA) has sold its entire stake in TAQA Neyveli Power Company to Megha Engineering & Infrastructures Limited (MEIL) Energy for Rs9.26 billion ($104.4 million) [1] - The transaction aligns with TAQA's strategy to reduce scope 1 and scope 2 emissions by 25% by 2030 and marks its complete exit from lignite-fired power generation [2][3] - TAQA is shifting focus towards low-carbon, flexible gas-fired power generation and renewable energy investments, particularly through its partnership with Masdar [2][4] Company Strategy - The divestment is part of TAQA's broader strategy for sustainable and profitable growth, emphasizing a transition to cleaner energy solutions [2][3] - The company plans to add 1GW of gas-fired capacity in the UAE and is collaborating with Masdar on a project to deliver 1GW of renewable energy using integrated solar and battery energy storage [4] - TAQA Morocco is exploring the acquisition of a combined-cycle gas turbine power plant and developing new gas-fired and renewable projects [5] Capacity and Growth Targets - TAQA's gross capacity has increased from 21GW in 2020 to approximately 70GW as of September 30, 2025 [5] - The company has set a target to reach 150GW by 2030, with two-thirds expected to come from renewable sources through investments in Masdar [6]