Abu Dhabi National Energy Company PJSC (TAQA) has reached an agreement to purchase 100% of GS Inima, a global water treatment and desalination company headquartered in Madrid, from GS Engineering & Construction. The transaction, valued at approximately US$1.2 billion, is set to strengthen TAQA’s international water portfolio and bring GS Inima entirely under its ownership.
GS Inima operates in ten countries, including Spain, Brazil, Mexico, the United States, and Oman, with a portfolio of about 50 projects, 30 of which are long-term public-private partnerships. The acquisition will add 171 million imperial gallons per day (MIGD) of desalination capacity to TAQA’s existing 1,250 MIGD, along with 264 MIGD of potable water production and 572 MIGD of wastewater and industrial water treatment. In addition, GS Inima’s water management services reach 1.3 million people.
For 2024, GS Inima reported revenues of €389 million (US$423 million) and EBITDA of €106 million (US$115 million), supported by long-term concessions that provide predictable cash flows.
Jasim Husain Thabet, TAQA’s Group CEO and managing director, described the acquisition as a pivotal step in the company’s water growth strategy. He said GS Inima brings global operational and technical expertise that will help TAQA expand its position across the Middle East, Europe, and the Americas, while advancing innovative, low-carbon water solutions worldwide.
The deal remains subject to regulatory clearance and is expected to close in 2026.
