"Taqa" Plans to Acquire Sustainable Water Solutions Holding Company

Abu Dhabi National Energy Company (Taqa) announced today, Wednesday, that it "intends to acquire Sustainable Water Solutions Holding Company for 1.7 billion dirhams (462.91 million dollars)." Sustainable Water Solutions Holding Company (S.W.S), a newly established company, was announced in May and has acquired Abu Dhabi Sustainable Water Solutions, the entity responsible for collecting, treating, and recycling sewage water in the emirate. Taqa stated in a stock exchange disclosure that "the acquisition deal is expected to yield collaboration opportunities in multiple areas, which will create value for Taqa and its shareholders." It added, "Abu Dhabi Sustainable Water Solutions owns a sewage pipeline network extending over 12,000 kilometers, with a treatment capacity of nearly 1.3 million cubic meters of sewage water daily through 37 treatment plants. Additionally, it holds a 60 percent stake in two companies that own four plants in the emirate."