TAQA H1 2021 Results - Energy Transition and Financial Performance
TAQA's 2030 growth strategy
✓
TAQA has introduced a new strategy
with ESG at its heart
Strategy focused on TAQA becoming a low carbon power and
water champion for the UAE and beyond
Decoupling power and water generation, deploying highly efficient
reverse osmosis technology for desalination5
TAQA also aims to reduce its exposure to hydrocarbons
Robust growth agenda based around renewables and
expansion of UAE networks
2030 TAQA targets¹
AED 40 billion (US$ 11 billion) RAV² additions
through substantial UAE-based infrastructure and networks growth projects
30GWac UAE generation capacity
up from 18GWac as at YE 2020
add up to 15GWac int'l generation capacity
to current 4.9GWac capacity as at YE 2020
>30% renewable power and 2/3rds RO³
up from 5% and 14% shares of power & water generation at YE 2020
Further pursue optimization and digitalisation to
improve efficiencies and margins
Enhance capabilities in key areas, with a particular focus on
operations & maintenance and on project development
In the Transmission & Distribution segment, intend to improve
customer service and develop ADES
...
to support UAE National Energy Strategy 2050
Demand Side
40% energy demand reduction
vs. BaU4 by 2050
Supply Side
50% clean energy in capacity mix
by 2050
25-50%
increase in clean energy
40%
increase in energy efficiency
Implement growth strategy whilst maintaining
prudent financial policies
Commitment to maintain strong investment grade
credit ratings on a standalone basis
70%
emissions reduction from
power generation
AED 700 billion
(US$ 191 billion) savings target
Source: Company Information, UAE Energy Strategy 2050 document (link: https://u.ae/en/about-the-uae/strategies-initiatives-and-awards/federal-governments strategies-and-plans/uae-energy-strategy-2050).
Note: 1. As per Company strategy update announced 24 March 2021; 2. Regulated asset value; 3. Reverse osmosis; 4. Business as Usual; 5. 200 MIGD RO plant already under construction (Taweelah RO)
7
TQView entire presentation