Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Energy Company (TAQA) hiked year-on-year (YoY) to AED 7.33 billion in 2024 from AED 16.82 billion.
Total revenues increased by 6.70% to AED 55.16 billion as of 31 December 2024 from AED 51.71 billion in 2023, according to the financial results.
Basic and diluted earnings per share (EPS)attributable to the shareholders retreated to AED 0.06 last year from AED 0.15 in 2023.
Mohamed Hassan Alsuwaidi, TAQA’s Chairman, commented: “On the water side, we also expanded our capabilities in water treatment and reuse through the integration of TAQA Water Solutions, adding AED 17.50 billion to our regulated asset value.”
He added: “Internationally, we made notable progress, particularly in the Kingdom of Saudi Arabia where we reached financial close for two of our projects, the Juranah Strategic Water Reservoir in Makkah region and the Najim Cogeneration Plant in Jubail, and signed project agreements with our partners to develop two high-efficiency gas power plants, one each in Rumah and Nairyah, with a combined capacity of 3.6 GW, further strengthening our presence in the Kingdom.
“Through Masdar, we took significant steps toward achieving our 2030 target of 100 GW of global renewable capacity, with several key acquisitions, including Terra-Gen in the US, Terna Energy and Saeta in Europe as well as a significant share in Endesa’s renewables portfolio in Spain.”
Meanwhile, the board members proposed a final cash dividend of 2.10 fils per share for 2024, bringing the full-year dividend to 4.20 fils per share.
