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Taqa completes AED 1.7 bn acquisition of SWS Holding: Abu Dhabi National Energy Company (TAQA) finalized its AED 1.7 bn acquisition of Sustainable Water Solutions Holding Company (SWS Holding), according to a press release (pdf).
What we know so far: The transaction will fully integrate Abu Dhabi Sustainable Water Solutions Company (ADSWS), a subsidiary of SWS Holding, into Taqa’s portfolio, adding to its portfolio of wastewater collection, treatment, and recycled water production in Abu Dhabi.
A significant move: Established in 2005, ADSWS is the currently the only company licensed for wastewater collection, treatment, and recycled water production in Abu Dhabi.
What they said: “By bringing the treated water business into Taqa, alongside our other water activities of production and transmission and distribution, we will be able to optimize the way we produce, use and reuse water,” Taqa CEO and Managing Director Jasim Husain Thabet said in the statement.
SWS has been expanding internationally: SWS, alongside Japan’s Marubeni Corporation and French-based utility company Suez, inked a joint development agreement with Uzbekistan’s Investment, Industry, and Trade Ministry and Uzsuvtaminot to develop a USD 1 bn wastewater treatment plant in Tashkent last month.
Taqa has also been adding more water projects to its portfolio: The company is part of a consortium comprising Saudi’s Vision International Investment Company (Vision Invest) and the Gulf Investment Corporation (GIC), which reached financial close on the AED 1.5 bn Juranah Independent Strategic Water Reservoir in Makkah in June.
