Abu Dhabi National Energy Company PJSC (TAQA), a leading utilities provider in Europe, the Middle East, and Africa, announced it has acquired 100% of Transmission Investment (TI), a major UK-based energy investment platform. This acquisition strengthens TAQA's position in the offshore electricity transmission sector.

TI operates offshore transmission assets that connect wind farms to the UK grid, a key part of the UK's energy transition. With a portfolio valued at $4bn billion (AED 15 billion), TI manages 11 offshore transmission assets (OFTOs) and has secured significant projects, including the Moray West OFTO.

The deal is part of TAQA Transmission's international growth strategy. As a subsidiary of TAQA, TAQA Transmission is the largest transmission asset owner in the UAE and is expanding its footprint in the UK and beyond.

With TI's addition, TAQA plans to leverage its capabilities to support its sustainability goals and contribute to the UK's net-zero targets by 2050. This acquisition also positions TAQA to expand into new markets in Europe and internationally.

Dr Afif Saif Al Yafei, CEO of TAQA Transmission, emphasized the importance of transmission grids in enabling the global energy transition. Dr Chris Veal, Founder and Managing Director of TI, will continue leading TI, ensuring its ongoing success and growth in the UK energy sector.