TAQA's main focus of investments is the companies engaged in power generation, water desalination, and production and storage of oil and gas. In addition, it has invested in the mining, metal, and service sector. TAQA has investments in over 60 companies. Its principal wholly owned subsidiaries include Emirates Power Company, Gulf Power Company, Arabian United Power Company, Al Shuweihat Power Company, Taweelah United Power Company, Union Power Holding Company, TAQA Bratani Limited, TAQA Energy B.V., TAQA North Ltd. and Takoradi International Company, operator of the
Takoradi Power Station II. Through the acquisition of CMS Generation, TAQA has assets in the
UAE,
Ghana,
Morocco,
Saudi Arabia and
India.
Persian Gulf Region Abu Dhabi TAQAs business roots lie in the local power and water
desalination plants in Abu Dhabi. The company supplies around 85% of the Emirates power and 90% of water demands, through the operation of eight power and desalination plants in the
UAE. The plants are 54% owned by TAQA, 6% by ADWEA and 40% by various international shareholders. All productions is sold under fixed power and water purchase agreements (PWPAs) to Abu Dhabi Water and Electricity Company (ADWEC). Further power plants operated in other countries currently consist of one plant in
Morocco (85.79% ownership), one in
Oman (40%), one in
India (99.9%), one in
Saudi Arabia (25%), one in
Ghana (90%) and two in the
USA (JV with output rights / 50%).
Oman TAQA owns a 40% stake in the
Sohar Aluminum smelter and the connected 1,000 MW Sohar Aluminum Power Plant (SAPP), whose output is mostly used to power the
aluminum plant, that has a production of around 360,000 tons of aluminum per year. The stake was acquired in 2010.
Saudi Arabia In Saudi Arabia, TAQA owns a 25% stake in the 250 MW
Jubail power plant, which powers the SADAF Petrochemical Plant. In addition to the
Persian Gulf region, TAQA has assets in
Europe,
Asia and
Africa and America, including investments in
Canada,
Netherlands, the
UK and the
USA. It has interests in the
Tern Alpha, Eider Alpha, Cormorant North, Cormorant Alpha, Kestrel and Pelican fields and related sub-sea satellite fields in the
North Sea. In Ghana, TAQA operates a 220 MW power plants in
Takoradi, 220 km west of
Accra. The plants capacity was increased to 330 MW with construction starting in 2013 and finishing in 2015. The plant now provides around 15% of Ghanas total generation capacity.
India In India, TAQA operates a 250 MW lignite-powered plant in
Neyveli,
Tamil Nadu, and has interest in the 100 MW Sorang hydro power project in the northern
Himachal Pradesh state. The plant is powered by the Sorang Khad river. The stakes were acquired by TAQA in 2014 for around $600 million from the Indian
Jaypee Group.
Iraq TAQA holds a majority share (53.2%) and is operator of the
Atrush block located 85 km northwest of
Erbil in the Kurdistan region of Iraq. Initial production is expected to be approximately 30,000 barrels of oil equivalent per day. TAQA acquired the interest for $600 million from an affiliate of Aspect Holdings in 2012.
North America TAQA operates different assets in Canada and the United States. Operations on the continent are focused on conventional oil and gas exploration, and production and power generation. In the US, the company has invested in the
Red Oak Power plant in
Sayerville, New Jersey (85%) and the
Lakefield wind farm in
Jackson County, Minnesota. In Canada, its investments lie within the oil and gas development of fields around
Calgary and
British Columbia, which began with the acquisition of Northrock Resources for $2 billion, Pioneer Natural Resources Canada (Pioneer Canada) for $540 million and the PrimeWest Energy Trust (PrimeWest) for C$4.6 billion in 2007.
Turkey On January 3, 2013, TAQA signed an agreement with
Turkey to invest about $12 billion to develop the coal fields in the Southern Turkey. This deal is considered as the second biggest Arab investment in Turkey in the energy sector. In August 2013, TAQA said it would delay the planned investment amid difficult financing conditions at a time of currency volatility in emerging markets including Turkey.
UK and Netherlands TAQA started operations in Europe by acquiring different gas exploration and production (E&P) assets from
BP Netherlands in 2007. Further investments followed in the UK and
Scotland in subsequent years (2008-2011). In August 2009, it bought a 15% interest in North Sea assets from the L11b Group and took over the operatorship of the L11b-A production platform. On 3 August 2009, TAQA took over operatorship of the
North Sea Brent Oil Pipelines System. In addition, in 2006 TAQA acquired BP Nederland Energie B.V. Through this acquisition, TAQA now holds onshore and off-shore production assets, including the Piek Gas Installatie facility in
Alkmaar, the project of the largest offshore LNG Regas facilities utilizing the depleted field P15/P18 just off the port of
Rotterdam, and partnership in the
Bergermeer gas storage project. TAQA operates
Gas Storage Bergermeer, which is Europes largest, open-access, gas storage facility with 46-
terawatt-hours (TWh) of seasonal storage capacity. The facility is operated in cooperation with
Gazprom. In November 2012, BP sold its stakes in several
U.K North Sea oil and gas fields (with a production capacity of equivalent) to TAQA for just over $1 billion. TAQAs production in 2016 totaled 17,410
megawatt in power generation, 917 million
gallons per day in water
desalination and equivalent. ==See also==