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.
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.
TAQA 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.
