Abu Dhabi Economic Vision
We are making a significant contribution to the Abu Dhabi Economic Vision 2030
Abu Dhabi’s economic strategy
The Government of Abu Dhabi is pursuing a long-term development strategy outlined in the Abu Dhabi Economic Vision 2030, a roadmap for transforming the Emirate into a sustainable and diversified, high value-added knowledge economy by 2030.
Economic diversification is a key pillar of the Economic Vision 2030. The Emirate’s drive for a more sustainable and diversified economy is intended to reduce the high volatility due to its dependency on oil and the primary role it plays in the economy.
TAQA supports the Abu Dhabi Economic Vision 2030 in the areas of:
- Economic development
- Social and human resources development
- Infrastructure development and environmental sustainability
TAQA helps ensure the security and resilience of Abu Dhabi’s economic growth by maintaining and investing in new power and water desalination infrastructure. TAQA supplies one of the engines of Abu Dhabi’s growth by keeping up with the growing power and water needs of the Emirate. TAQA enhances the diversification of Abu Dhabi’s sources of energy supply by developing alternatives.
As one of the largest companies listed on the Abu Dhabi Securities Exchange, TAQA offers a good example of a successfully privatised company delivering investment opportunities to equity and fixed income investors. TAQA attracts foreign investment to Abu Dhabi through its joint ventures with major independent power producers. By utilising the natural gas resources of Abu Dhabi for the benefit of the people, TAQA optimises the resources of the Emirate. TAQA also makes a significant contribution to the Federation of the UAE through the provision of power and water from its facility in Fujairah to the Northern Emirates.
Around the world, TAQA is active throughout the entire value chain from oil and gas exploration and production through to power generation and water desalination. These global operations facilitate the export of capital through targeted investments and contribute to TAQA’s robust financial performance which in turn delivers dividends to shareholders and other stakeholders in Abu Dhabi.
Social and human resources development
TAQA is a sophisticated global energy company with operations in 11 countries and a workforce of approximately 2,800. We are able to offer outstanding opportunities for our employees to prosper in a competitive international setting. TAQA makes a long-term commitment to its employees and offers a diverse and compelling environment to deliver outstanding performance.
From our headquarters in Abu Dhabi, TAQA extends a unique opportunity to UAE Nationals to build a career in the global energy industry, acquiring skills and intellectual capital that will contribute to Abu Dhabi’s goal of developing a high-value, knowledge economy. The knowledge acquired in a career with TAQA will directly benefit Abu Dhabi as it explores opportunities in state-of-the-art power and water facilities, complex oil and gas operations, and alternative energy sources.
Infrastructure development and environmental sustainability
Unlocking the potential of energy efficiency is recognised as one of the key steps to sustainability. TAQA is constantly improving its operational efficiency and minimising wasted resources by upgrading its assets, and optimising processes and technology.
Consistent with our overall business values TAQA is guided by a number of principles including respect, protection and understanding of the natural environment now and in the future. In accordance with our Process Safety Minimum Standards we have assessed all our subsidiaries to ensure they have in place the highest standards of operation to protect our people, communities and the environment.
Developing and diversifying energy sources is key to the security and environmental sustainability of Abu Dhabi over the long term. TAQA is committed to achieving this through its Energy Solutions division, which is creating alternative energy businesses in the company’s existing areas of operation. TAQA is also developing an alternative energy knowledge centre in Abu Dhabi, contributing to the emergence of a knowledge economy in the Emirate.