TAQA establishes MYR 3.5 billion programme

Press release

Published October 2nd, 2011 - 07:55 GMT

Al Bawaba

Abu Dhabi National Energy Company (“TAQA”) announces today that it is setting up a Malaysian Ringgit (MYR) 3.5 billion Sukuk Program to diversify funding sources.

Once appropriate regulatory approval is received, the program will allow TAQA to issue quickly if and when the market conditions are optimal.

Background Information

Abu Dhabi National Energy Company

Abu Dhabi National Energy Company (TAQA) is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Its activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. It produces almost 137,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.

TAQA is the 6^th largest independent power producer in the world. Its power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, TAQA’s entrepreneurial culture has laid the foundations for long-term sustainable growth building on its commitment to people, safety and the environment.