TAQA acquires SWS Holding for $463mn

ABU DHABI: Abu Dhabi-listed TAQA has announced its acquisition of the outstanding shares of Sustainable Water Solutions Holding Company (SWS Holding) for AED 1.7 billion (approximately $463 million).

The strategic acquisition underscores TAQA’s commitment to enhancing its operational capabilities in water management, aligning with global trends towards sustainability.

SWS Holding, the parent organisation of Abu Dhabi Sustainable Water Solutions Company (ADSWS), plays a pivotal role in the region’s water sector.

With an extensive network of 13,000 kilometres of sewer pipelines and a substantial water treatment capacity of 1.3 million cubic metres per day across 43 plants, ADSWS represents a formidable asset in Abu Dhabi’s infrastructure.

The regulated asset value of approximately AED 17.5 billion reflects the company’s significant contributions to the sustainability and efficiency of water resources in the emirate.

The acquisition is not merely a financial transaction; it aligns with TAQA’s broader strategic vision to optimise water production and enhance resource management.

Jasim Husain Thabet, TAQA’s group CEO and managing director, emphasised that integrating the water treatment business into TAQA’s existing operations would facilitate improved practices in water usage and reusage, thereby supporting the company’s net-zero strategy.

The initiative underscores the increasing importance of sustainable practices in the utilities sector and the need for companies to adapt to environmental challenges.

Moreover, SWS Holding’s recent consortium agreement to develop Uzbekistan’s largest wastewater treatment plant highlights its ambitions for international expansion. The move aligns with TAQA’s strategy of leveraging its expertise in water solutions globally, potentially opening new markets and fostering growth.