Jasim Hussein Thabet, CEO of Abu Dhabi National Energy Company (TAQA), stated that the company plans to make “GS Inima” its main tool to continue its international expansion strategy in the water sector. This follows TAQA’s acquisition of the Spanish company for $1.2 billion. Thabet added in an interview, “GS Inima will be our growth engine internationally regarding water desalination, wastewater treatment, and local water networks. The deal represents a golden moment for our growth and transformation strategy,” as it will allow TAQA to enter eight new markets including Brazil and Mexico. TAQA aims to spend about $20 billion between 2023 and 2030 on organic growth through developing new products or services, and inorganic growth through mergers, acquisitions, or strategic alliances. In recent months, TAQA has pledged to invest billions in several large water projects in countries such as Morocco and Uzbekistan.

The deal adds 171 million gallons per day of water desalination capacity to TAQA’s portfolio of 1,250 million gallons per day. It supports TAQA’s goal to have two-thirds of its water desalination capacity from reverse osmosis technology by 2030, up from about 40% currently, and will enhance treated wastewater capacity by adding 2.6 million cubic meters per day. TAQA will finance the deal from its own funds.