Abu Dhabi’s TAQA to move headquarters to Sowwah Square

Abu Dhabi National Energy Co (TAQA) is to move its headquarters to the emirate’s new central business district, Sowwah Square. The state-run oil and gas utility firm, which is consolidating its global corporate functions, said it will move its operations from Jawazat Street in Abu Dhabi to its new offices in Al Maqam Tower, Sowwah Square, later this year. The headquarters, based in the heart of Al Maryah Island, will occupy three floors and accommodate 200 employees. TAQA is playing a key role in implementing Abu Dhabi’s 2030 plan, given its majority-ownership interest in all of Abu Dhabi’s gas-fired power generation facilities. The company, which provides 98 percent of the water and electricity requirements in Abu Dhabi, saw its net profits more than triple in the first quarter, boosted by sales of some non-core Canadian assets.