Taqa takes over Spain’s GS Inima: Abu Dhabi National Energy Company (Taqa) agreed to fully acquire Spain-based water treatment and desalination company GS Inima from South Korean contractor GS Engineering and Construction for USD 1.2 bn, it said in a press release (pdf). The transaction is expected to close in 2026, pending regulatory sign-offs and customary closing conditions.

What Taqa stands to gain: GS Inima operates about 50 projects, including 30 long-term PPPs, across 10 countries in Europe, Latin America, and Asia. The transaction adds 171 mn imperial gallons per day (mig/d) of desalination capacity to Taqa’s 1.25k mig/d portfolio. It will also contribute an additional 1.2 mn cubic meters per day of drinking water capacity and 2.6 mn cubic meters per day of wastewater and industrial water treatment capacity to Taqa’s global water platform and water management business.

A glimpse at GS Inima’s latest financials: GS Inima booked EUR 389 mn in revenue and EUR 106 mn in EBITDA last year. Most of its portfolio is covered by inflation-linked concession agreements, providing predictable cash-flows.

BACKGROUND- The move comes less than a year after Taqa wrapped up its AED 1.7 bn acquisition of Sustainable Water Solutions Holding, Abu Dhabi’s sole wastewater collection and treatment company. Taqa is also pressing ahead with international expansion, with projects including an AED 52 bn integrated power and water infrastructure program in Morocco, its takeover of the Talimarjan power complex in Uzbekistan, and the acquisition of UK-based Transmission Investment.

ALSO- Last week, Taqa lined up an AED 8.5 bn corporate term loan, giving it more firepower to fund growth and keep its balance sheet liquid.

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