• 18 Nov 2008
  • Global

Transparency puts TAQA in ‘top list’ of global energy companies

TAQA, along with the Saudi Electricity Company, are the first energy companies from the Gulf region to be listed in the prestigious Top 250 rankings table, highlighting the trend towards greater financial transparency and disclosure.Based in Abu Dhabi, with operations in the UK, Europe, North America, the Middle East, Africa and India, TAQA came in at No. 234 on the list with reported assets of $18,471 million; a major achievement for a company that was founded in 2005.The milestone represents a major move forward for Gulf oil companies and serves to further highlight TAQA’s credentials as global energy company committed to transparency and good governance. TAQA CEO Peter Barker Homek said: “TAQA’s inclusion in the Top 250 Global Energy list is testament to how far we have come as a company in just three years and to the commitment of every employee to ensure that we meet the highest standards of corporate responsibility, transparency and openness.”“TAQA has invested heavily to ensure it has a best-in-class financial data system and this accolade reinforces this,’’ Mr Barker Homek said.“TAQA is proud to be one of the first Gulf companies to be included on the list and we will continue to strive for greater transparency and disclosure throughout the region.’’In order to be included on Platt’s Top 250 Global Energy Company list, companies must publish their financial results and adhere to open and transparent data systems.- ENDS -Contact Information for Media:Allan Virtanen
TAQA Media Relations, Abu DhabiTel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqa.comAbout TAQAEstablished in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA’s power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA’s oil and gas business includes exploration and production, underground gas storage and pipeline transportation.Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. For more information about TAQA visit: www.taqa.com or Twitter: @TAQAGLOBAL

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