Abu Dhabi National Energy Company, known as “Taqa,” has announced the signing of an agreement with South Korea’s GS Engineering & Construction to acquire full ownership of GS Enima, a global player in water treatment and desalination, for $1.2 billion. Taqa stated in a recent announcement that this acquisition will significantly accelerate its efforts in advancing its water portfolio strategy on an international scale.
Moreover, this deal is expected to add approximately 171 million gallons of desalinated water per day to Taqa’s existing capacity of 1,250 million gallons. This will help the company to achieve its goal of producing two-thirds of its water supply through energy-efficient reverse osmosis technology by 2030.
Taqa highlighted that the integrated services provided by GS Enima across the water sector’s value chain would contribute an additional 1.2 million cubic meters per day (264 million gallons) of potable water, along with 2.6 million cubic meters per day (572 million gallons) of wastewater and industrial water treatment to Taqa’s global water asset portfolio. The operations will also support water management services for approximately 1.3 million residents.
The acquisition is subject to regulatory approval and other customary closing conditions, with an expected completion date in 2026. In 2024, GS Enima reported annual revenues of nearly €389 million, with adjusted earnings before interest, taxes, depreciation, and amortization reaching €106 million. The company’s headquarters is located in Madrid, and it operates around 50 projects worldwide.