Taqa Transmission is expanding its global transmission portfolio with the full acquisition of UK-based Transmission Investment (TI), according to a joint statement (pdf). There’s no publicly available information about the size or structure of the transaction. The acquisition comes shortly after Taqa rebranded its transmission business and announced plans to scale internationally.

The pitch: The agreement gives Taqa immediate access to a GBP 3 bn portfolio spanning 11 operational OFTO projects, and positions the company to tap into the fast-growing interconnector sector and offshore wind power in the UK as the country attempts the ambitious feat of 30 GW of wind power by 2030. The transaction also gives Taqa a stake in the development of new interconnectors that link the UK with France and Northern Ireland.

No changes to management: TI’s founder and managing director, Chris Veal, will continue to lead TI, the statement reads.

Taqa has been making moves on major Europe-bound electricity transmission projects, signing an agreement in February with Italy’s Eni that made it — alongside Masdar — the preferred off-taker for a tripartite renewables’ subsea cable project connecting Italy, Albania, and the UAE. The company is also backing Xlink’s ambitious UK-Morocco interconnector project, which envisions a 3.8k km high-voltage direct current (HVDC) subsea cable transporting 3.6 GW of renewable energy — nearly 8% of the UK’s current requirements — from a 10.5 GW solar and wind farm planned in Morocco’s Guelmim-Oued Noun region.

REMEMBER- UK Prime Minister Keir Starmer has been working to improve ties with Gulf countries, including the UAE, visiting Abu Dhabi last December to discuss potential investments with officials from Mubadala as he looks to secure funding for a range of projects.

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