TAQA, the international energy and water company based in Abu Dhabi, has undertaken a reorganization at its headquarters to enhance efficiency. This announcement was made on December 12, 2013.
The measures will reduce general & administrative costs by more than USD 20 million in 2014 and are part of a global initiative to position TAQA to deliver on its vision to be the leading international energy and water operator from Abu Dhabi.
As part of the reorganisation
, the headquarters workforce will fall by 16%, reducing the headcount in the corporate centre
In the UAE, TAQA is majority owner of eight power and water plants, which supply almost all of Abu Dhabi’s electricity and clean water. TAQA is also helping to diversify the UAE’s power and water sources with projects including water desalination, waste-to-energy, solar power, energy storage and energy efficiency.
TAQA also continues to optimise
its portfolio to focus on core activities where it has a competitive advantage. The company agreed to sell its stake in the Dutch pipeline business, NGT, in November for USD 240 million and is in the process of raising USD 181 million through the sale of 15% of its Moroccan power business in a stock market listing.
In eight years since it was founded through the privatisation
of Abu Dhabi’s power and water fleet, TAQA has evolved into an operator of large-scale energy infrastructure in 11 countries including Ghana, India, Iraq, Morocco, the Netherlands, North America and the UK. In Abu Dhabi, the company has built up a world-class pool of talent of UAE National and expatriate professionals at its corporate centre
in Sowwah Square, Maryah