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Taqa completes SWS acquisition

4 September 2024

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Abu Dhabi National Energy Company (Taqa) has announced the completion of its agreement to acquire Sustainable Water Solutions Holding Company (SWS Holding), formerly Abu Dhabi Sewerage Services Company, for AED1.7bn ($463m).

SWS Holding is the sole entity responsible for wastewater collection and treatment as well as the production of recycled water in Abu Dhabi.

Taqa said it has finalised the acquisition of all outstanding shares of SWS Holding for AED1.7bn.

The transaction was first announced in June 2023, when Taqa said it planned to acquire all outstanding shares of SWS Holding for AED1.7bn, with 50% of the consideration to be paid upon completion and the remaining 50% to be paid one year after completion.

Taqa said at the time it would make an additional payment in 2024 linked to net profits generated during 2023.

SWS Holding launched in May 2023. It took ownership of Abu Dhabi Sustainable Water Solutions Company (ADSWS), formerly known as Abu Dhabi Sewerage Services Company (ADSSC), the main entity behind all wastewater collection, treatment and reuse in the Emirate of Abu Dhabi.

ADSWS has a network of sewer pipelines extending over 12,000 kilometres and a sewage treatment capacity of approximately 1.3 million cubic metres a day (cm/d) from its 37 wholly owned treatment plants, and through the 60% ownership in two companies owning four sewage treatment plants in Abu Dhabi under the build-own-operate-transfer (BOOT) model.

Last month, a consortium of SWS, Japan’s Marubeni Corporation and France-based Suez signed a joint development agreement with the Ministry of Investment, Industry & Trade of Uzbekistan and Uzsuvtaminot to develop a wastewater treatment plant in Tashkent, Uzbekistan.

The estimated $1bn project will be capable of producing 1.5 million cm/d of treated water.

SWS is also among 13 companies and consortiums that have been prequalified to bid for a contract to develop and operate an independent sewage treatment plant in Ras Al-Khaimah.

“By bringing the treated water business into Taqa, alongside our other water activities of production and transmission and distribution, we will be able to optimise the way we produce, use and reuse water," said Jasim Husain Thabet, Taqa's group CEO and managing director.

"Adding SWS Holding to our portfolio strongly aligns with our net zero strategy, helping to ensure water security in the UAE while minimising related greenhouse gas emissions through effective wastewater treatment and reuse.”

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Jennifer Aguinaldo

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