Abu dhabi: Abu Dhabi National Energy Company PJSC (TAQA) announced today the divestment of its 100 percent stake in TAQA Neyveli Power Company Private Limited (TAQA Neyveli) to MEIL Energy Private Limited, associated with Megha Engineering and Infrastructures Limited (MEIL). The sale of the 250 MW lignite-fired power plant in Tamil Nadu, India, was finalized for a consideration of INR 9.26 billion (approximately AED387 million), marking TAQA’s exit from the lignite sector as it pivots towards a low-carbon energy portfolio.
According to Emirates News Agency, TAQA’s decision to sell its stake in TAQA Neyveli aligns with its strategy to focus on low-carbon, flexible gas-fired power generation and renewable energy investments through its stake in Masdar. Farid Al Awlaqi, CEO of TAQA’s Generation business, emphasized that the sale is part of a broader effort to transition towards cleaner energy solutions and adapt to global energy demand changes.
TAQA has been actively investing in strategic growth projects over the past year, focusing on low-carbon power and water initiatives. In the UAE, TAQA announced plans for an additional 1 GW of gas-fired capacity and a major solar and battery energy storage project in partnership with Masdar, aimed at delivering renewable energy around the clock.
In Morocco, TAQA Morocco is exploring acquisitions and development of new low-carbon power projects, including combined cycle gas turbine plants and renewable energy projects. In Saudi Arabia, the company reached financial closure for the SATORP Cogeneration Plant and two gas-fired plants, totaling approximately 3.6 GW.
TAQA’s capacity has grown from 21GW in 2020 to about 70 GW as of September 2025, with a target of 150 GW by 2030, focusing heavily on renewable energy. The divestment of TAQA Neyveli supports the company’s strategic direction towards investing in technologies that ensure energy security and sustainable growth, consistent with its 2030 Corporate Strategy.