ABU DHABI (ALETIHAD)

Abu Dhabi National Energy Company (TAQA) has announced it will acquire a 100% interest in GS Inima, a global leader in water treatment and desalination, in a deal valued at about $1.2 billion, marking a major step in the company’s ambition to expand its international water platform.

Headquartered in Madrid, GS Inima operates some 50 active projects, including around 30 long-term public-private partnerships, across a portfolio covering water desalination, industrial water and wastewater treatment.

With a presence in 10 countries, including Spain, Brazil, Mexico, the United States and Oman, the acquisition provides TAQA with immediate access to growth markets across Europe, Latin America and Asia.

The transaction, which remains subject to regulatory approvals and customary closing conditions, is expected to complete in 2026. It will add approximately 171 million imperial gallons per day of desalination capacity to TAQA’s current portfolio of 1,250 MIGD, and advance its target of sourcing two-thirds of its water desalination capacity from energy-efficient reverse osmosis technology by 2030.

In addition, GS Inima brings an integrated offering across the water value chain, contributing 1.2 million cubic metres per day of drinking water capacity, 2.6 million cubic metres per day of wastewater and industrial water treatment capacity, and a water management business serving 1.3 million inhabitants.

The financial contribution is expected to be significant, with GS Inima having generated annual revenue of €389 million and EBITDA of €106 million in 2024.

Much of the company’s portfolio operates under long-term concession agreements with inflation-adjustment mechanisms, supporting predictable cash flows. Its advanced digital technologies and focus on research and development are also expected to enhance TAQA’s operational efficiencies and technical capabilities.

Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, described the acquisition as a “transformational step in TAQA’s growth and water strategy”.

He said: “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, expanding our reach and capabilities across strategic growth markets in the Middle East, Europe, and the Americas, while delivering innovative, low-carbon water solutions to communities around the world.”

The move builds on TAQA’s momentum over the past year, during which it has expanded its domestic wastewater and recycled water operations through the acquisition of Sustainable Water Solutions Holding, now operating as TAQA Water Solutions, and committed to international infrastructure projects aimed at long-term water security, including developments in Morocco and Uzbekistan.

Established in 2005, TAQA is one of the largest listed integrated utilities in Europe, the Middle East and Africa, with significant investments in power and water generation, transmission and distribution, as well as upstream and midstream oil and gas operations.

The group owns or manages assets in 25 countries and is listed on the Abu Dhabi Securities Exchange under the ticker TAQA.