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TAQA, one of the few UAE-listed companies to pay a quarterly dividend, will issue AED 675 million (0.60 Phil per share) in the third quarter. TAQA group chief executive and managing director Jasim Husain Thabet said the latest results reflected “strong performance across all our businesses”.
Capital expenditure was AED 2.5 billion, down 28% from last year, mainly due to lower spending in transmission and distribution.
2022 will be one of the most productive years for TAQA to date and I am confident we will continue on this trajectory for the rest of the year
– Jasim Husain Thabet, TAQA
In the third quarter, TAQA completed a $3.8 billion “first-of-its-kind” project to power and significantly decarbonize ADNOC’s offshore production operations. In cooperation with Mubadala, it played an important role in the privatization of two gas-fired power plants in the Talimarjan complex in Uzbekistan. (TAQA aims to provide 15GW of new international capacity by 2030.)
Refinancing of a $3.5 billion revolving credit facility, which enables the Abu Dhabi company to extend its final maturity from 2024 to 2027. Another refinancing involved $1.09 billion related to the MIRFA International Power and Water Plant.
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