TAQA Secures $2.31 Billion Term Loan to Boost Liquidity

Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities in Europe, the Middle East and Africa, on Thursday said that it has secured an $2.31 billion corporate term loan facility.

The transaction underscores TAQA’s commitment to maintaining a strong and flexible balance sheet while supporting its long-term growth strategy and capital planning, the company said in a regulatory filing with Abu Dhabi Securities Exchange (ADX) this morning.

The loan is a two-year AED-denominated floating-rate loan with a one-year extension option and AQA intends to utilise the loan over time in a phased manner.

Emirates NBD Bank and First Abu Dhabi Bank were mandated by TAQA to act jointly as Bookrunner, Mandated Leader Arranger and Coordinator while Mashreq Bank acted as Mandated Lead Arranger for the term loan facility.

The use of AED funding aligns with the Group’s dirham-based income profile and benefits from strong local liquidity, with EIBOR offering a cost advantage over international benchmarks, TAQA said.

The transaction enhances funding optionality, diversifies liquidity sources, and supports ongoing efforts to optimise the Group’s capital structure and maintain the financial flexibility required to deliver on TAQA’s long-term growth strategy.

Loan to Support Future Investments

TAQA’s Group CEO and Managing Director Jasim Husain Thabet said that securing this facility marks another step in delivering on TAQA’s long-term growth strategy, reinforcing the company’s ability to maintain a strong and flexible balance sheet to support future investments.

“This facility demonstrates our ability to access competitive funding in our domestic currency, while retaining the ability to draw down in line with our capital and investment needs. The terms reflect the strength of our credit profile and the trust placed in us by our banking partners, ensuring we have the right financial foundations to continue delivering reliable and sustainable power and water to the communities we serve,” he said.

The facility offers TAQA greater financial flexibility compared to other available sources of funding, allowing drawdowns to be aligned with the Group’s cash flow and investment schedule. The two-year tenor also aligns well with TAQA’s maturity profile, as the Group has no corporate debt maturities scheduled in 2027.

This facility complements TAQA’s existing corporate funding framework, which includes a $20 billion Global Medium-Term Note (GMTN) programme and a $3.5 billion revolving credit facility.

Together, these instruments provide the Group with a well-balanced and diversified capital structure that supports both operational resilience and future growth.

The facility also reinforces TAQA’s financial readiness as it continues to execute on a strategic investment programme spanning domestic and international growth opportunities across power, water, and low-carbon energy, the company said.

About TAQA

Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, and has significant investments in power and water generation, water treatment and reuse, transmission and distribution assets, as well as upstream and midstream oil and gas operations. TAQA owns and manages assets in 25 countries.