Abu Dhabi National Energy Company PJSC (TAQA) has signed an agreement to acquire 100% of GS Inima, a Madrid-headquartered water treatment and desalination specialist, from GS Engineering & Construction.
The deal, valued at about US$1.2bn, will accelerate TAQA’s international water growth strategy and bring GS Inima fully under its ownership.
Operating in ten countries, including Spain, Brazil, Mexico, the US and Oman, GS Inima runs around 50 active projects, including 30 long-term PPPs.
The acquisition will add 171 million imperial gallons per day (MIGD) of desalination capacity to TAQA’s existing 1,250 MIGD portfolio. It will also contribute 264 MIGD of drinking water and 572 MIGD of wastewater and industrial water treatment capacity, alongside a water management business serving 1.3mn people.
In 2024, GS Inima reported revenue of €389mn (US$423mn) and EBITDA of €106mn (US$115mn), underpinned by concession agreements offering stable cash flows.
Jasim Husain Thabet, TAQA’s Group CEO and managing director, said, “This acquisition represents a transformational step in TAQA’s growth and water strategy. GS Inima brings proven operational and technical strength on a global scale, and we are proud to welcome them into the Group. Together, we will accelerate our ambition to become a leading international water player, expanding our reach and capabilities across strategic growth markets in the Middle East, Europe, and the Americas, while delivering innovative, low-carbon water solutions to communities around the world.”
The transaction, subject to regulatory approvals, is expected to close in 2026.
TAQA acquires GS Inim to expand global water platform
GS Inima reported revenue of €389mn in 2024
