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FII to study investment opportunities in Saudi water & power sectors

Saudi Arabia, October 22, 2018

JEDDAH/ABU DHABI —

Abu Dhabi National Energy Company (TAQA) is participating in the second annual Future Investment Initiative (FII) conference taking place in Riyadh on Oct. 23-25 to explore opportunities for further investment in the power and water sector in Saudi Arabia.

The Future Investment Initiative will bring together government and business leaders from across the world to encourage new investment partnerships.

“We believe there is high potential for TAQA to invest in Saudi Arabia in the coming years,” said TAQA Chairman Saeed Mubarak Al-Hajeri. “The country is investing in many areas to diversify its economy, and this will lead to rapid growth in power demand. TAQA has already invested in Saudi Arabia, and we believe that our global power industry expertise and the strong relationship between Saudi Arabia and the UAE will provide further opportunity for partnership.”

TAQA, which operates in 11 countries across four continents, holds a 25 percent stake in the 250 megawatt Jubail power plant, a co-generation facility, that delivers its entire output to the SADAF Petrochemical Plant to fuel its operations. The company also owns power and water assets in the UAE, Oman, Morocco, India, Ghana and the United States, as well as oil and gas operations in Europe and North America.

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