Abu Dhabi’s National Energy Company, TAQA, has closed the chapter on its Indian venture, selling off its entire ownership in TAQA Neyveli Power Company Private Limited for roughly $105 million (around 387 million dirhams).
The buyer — MEIL Energy Private Limited, part of India’s Megha Engineering & Infrastructures Limited — now takes full control of the 250 MW lignite-fired power plant in Tamil Nadu, marking TAQA’s complete exit from the project.
The move signals more than just a divestment. It’s a deliberate pivot. TAQA is reshaping its portfolio toward cleaner frontiers — low-carbon gas generation and renewable investments through its partnership with Masdar.
Farid Al Awlaqi, who leads TAQA’s Generation business, described the sale as a “strategic recalibration” — one that sharpens the company’s focus on sustainable energy as it steers away from carbon-heavy operations.
With this deal, TAQA not only steps out of India’s coal-shadowed energy landscape but also takes another stride toward its vision of a greener, more flexible global footprint.
