Abu Dhabi National Energy Company (TAQA) has agreed to sell its entire stake in TAQA Neyveli Power Company to India-based Megha Engineering & Infrastructures Limited (MEIL) Energy, for Rs9.26bn ($104.4m).
TAQA Neyveli operates a 250MW lignite-fired power plant in the state of Tamil Nadu, India.
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MEIL Energy is an affiliate of MEIL, an Indian conglomerate focused on infrastructure, energy, and high-tech manufacturing.
This transaction, which supports TAQA’s strategy to reduce its scope 1 and scope 2 emissions by 25% by 2030, marks its complete exit from TAQA Neyveli.
TAQA is shifting its focus towards low-carbon, flexible gas-fired power generation and renewable energy investments through its stake in Masdar.
The company stated that the divestment aligns with its 2030 corporate strategy for sustainable and profitable growth.
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By GlobalDataTAQA generation business CEO Farid Al Awlaqi said: “This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix.
“It aligns with TAQA’s broader efforts to transition towards cleaner energy solutions, reduce long-term emissions, and respond to the changing dynamics of global energy demands.
“Our focus remains on developing flexible, efficient and low-carbon power generation assets that support sustainable growth and the energy transition.”
In the United Arab Emirates, TAQA announced plans to add 1GW of gas-fired capacity.
Also, the company is working alongside Masdar on a project that will deliver 1GW of renewable energy continuously, using integrated solar and battery energy storage.
In Morocco, TAQA Morocco is considering the acquisition of a combined-cycle gas turbine power plant, as well as developing new gas-fired and renewable power projects, seawater desalination, and transmission infrastructure.
Also, the company has reached financial close for the Satorp cogeneration plant, and two gas-fired plants, Rumah 2 and Al Nairyah 2, in Saudi Arabia.
TAQA reported a gross capacity of 21GW in 2020, which has increased to approximately 70GW as of 30 September 2025.
The company has set a target of reaching 150GW by 2030, with two-thirds expected to come from renewables through its investment in Masdar.
