"energy" Announces the sale of a 250 MW lignite coal power plant in India
ABU DHABI, 30th October, 2018 (WAM) – Abu Dhabi National Energy Company (TAQA) announced today the sale of its entire stake in TAQA Neveli Company to MEIL Energy Private Limited, a subsidiary of Mega Engineering & Infrastructure Limited, a huge diversified group of companies headquartered in India, which owns stakes in infrastructure, energy, and high-tech manufacturing facilities.
The value of the sale deal amounted to 9.26 billion Indian rupees (approximately 387 million UAE dirhams).
Neveli Energy owns and operates a 250 MW lignite coal-fired power plant located in the state of Tamil Nadu, India.
As a result of this transaction, TAQA will sell its entire stake in TAQA Nefeli, which focuses on low-carbon gas-fired power plants with highly flexible operations, and investments in renewable energy through its stake in Abu Dhabi Future Energy Company “Masdar”.
Farid Al-Awlaki, CEO of the electricity generation and water desalination business sector at TAQA, said that this sale deal represents a targeted development for TAQA’s portfolio of power generation plants, as it continues to progress towards producing a more sustainable mix of electrical energy.
He pointed out that TAQA’s broader transformation efforts are aligned towards providing cleaner energy solutions, reducing emissions in the long term, and responding to dynamic changes in global energy demand, while its focus remains focused on developing low-carbon electricity generation plants that are efficient and flexible in operation, to support sustainable growth and transformation in the energy sector.
Over the past year, TAQA’s electricity generation and water desalination business has made several significant strategic investments for growth as part of the long-term strategy to develop pioneering low-carbon electricity generation and water desalination projects.
In the UAE, “Taqa” recently revealed plans to generate 1 gigawatt of additional electrical energy that will be generated by gas, in addition to the huge “Masdar” project to generate clean electrical energy around the clock, which upon completion will become the largest of its kind in the world. It is an integrated system for generating electricity from solar energy and storing it in batteries, and provides one gigawatt of clean base load energy around the clock.
TAQA, through its subsidiary TAQA Morocco, also announced that it is exploring opportunities to acquire an existing combined cycle gas turbine power plant, develop low-carbon gas-powered power plants with flexible operations, power plants from renewable energy sources, seawater desalination projects, and infrastructure for water and electricity transmission networks in the Kingdom of Morocco.
In the Kingdom of Saudi Arabia, TAQA completed a deal to finance the SATORP project for the joint production of steam and electricity, and the highly efficient “Rumah 2” and “Nairiya 2” gas powered plants with a capacity of about 3.6 gigawatts of electricity.
It is worth noting that in 2020, TAQA’s total electricity generation capacity was 21 gigawatts, which increased until it reached 70 gigawatts “as of September 30, 2025,” and it intends to increase it to 150 gigawatts by 2030, with two-thirds of it coming from renewable energy sources through its share in “Masdar.”
TAQA’s clear focus is on investing in highly efficient, low-emission technologies that support energy security, enable the integration of renewable energy, and meet the growing energy demand in the industrial sector, while its sale to TAQA Nefeli is in line with this trend, allowing the company to focus on technologies that enhance its efforts towards achieving the goals of its 2030 strategy with sustainable and profitable growth.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
