Transmission Investment has been acquired by TAQA

Arrowpoint Advisory’s Energy Transition and Infrastructure sector team has advised the shareholders of Transmission Investment (“TI”), a leading UK-based energy and utility investment platform on its 100% sale to Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa.

The strategic acquisition strengthens TAQA's position in the offshore electricity transmission sector, reinforcing its commitment to supporting the energy transition and growing in the UK and beyond. The transaction will provide TAQA with a well-established team of more than 40 full-time employees at TI with cross-sector end-to-end technical and development capabilities.

TI becomes part of TAQA Transmission, whose new brand was recently launched, and which is the TAQA Group subsidiary responsible for the development and operation of TAQA’s high voltage power and bulk water transmission infrastructure. The acquisition of TI establishes TAQA in the UK electricity transmission sector and allows expansion into European and international markets, leveraging TAQA’s leading position.

Since its founding in 2009, TI has emerged as one of the UK's largest players in the offshore electricity transmission sector, with over £3 billion of assets under management in relation to its existing portfolio of 11 OFTO assets. Through its consortium in partnership with Amber Infrastructure and INPP, TI has established a strong track record of bidding, winning and operating the OFTO assets in the UK, with a 40 percent success rate on OFTO bids. Last week, Ofgem appointed TI’s consortium with Amber and INPP as its preferred bidder for Moray West OFTO.

TI is also one of the UK’s developers of interconnector projects, including the FAB Link Project and the LirIC Project (both the projects have been granted a cap and floor regime by Ofgem), connecting Great Britain with France and Northern Ireland through new HVDC sub-sea electricity interconnectors with an aggregate capacity of approximately 2GW. Recently, the LirIC Project progressed significant milestones with the energy regulators in Northern Ireland and GB. Furthermore, TI has Grid Stability projects under development and is ready to make an entry into the onshore electricity transmission grid (CATO) market.

Dr Afif Saif Al Yafei, CEO of TAQA Transmission, said: “Transmission grids are essential for enabling the global energy transition. Experts estimate that achieving net-zero emissions by 2050 will require a fourfold increase in annual investment in energy systems by 2030. That is why we are pleased to announce TAQA Transmission’s first international acquisition, strengthening our growing portfolio and reinforcing TAQA’s role as a global leader in low-carbon power and water solutions. This deal will allow us to leverage the significant capabilities of TI to support our international growth strategy while contributing to the UK’s 2050 Net Zero programme and our wider sustainability ambitions.”

Dr Chris Veal, Founder and Managing Director of Transmission Investment, commented: “We are pleased that TAQA has acquired Transmission Investment. TAQA’s experience, capability and backing will enable TI to continue to grow and play its part in the development of the UK transmission system in support of the energy transition. The UK’s targets of 50GW of offshore wind by 2030, and net zero by 2050, require a huge expansion of offshore and onshore transmission. TI is ready to contribute to this expansion. As a leader in the delivery of competitive UK transmission, we are committed to doing so cost-effectively for UK consumers, while ensuring safety and acting responsibly towards society and the environment.”

Chris went on to add: “Arrowpoint Advisory’s guidance for the management team throughout the process was invaluable – their expertise and commercial approach, both at a strategic level and in the detail, helped us navigate the complexities of the transaction and deliver a great result for all involved – we look forward to working with them again in the future.”

Following the acquisition, Dr. Chris Veal will continue to lead TI, maintaining its strong performance and targeting growth areas.

TAQA Transmission, the sole transmission operator in the Emirate of Abu Dhabi and the largest transmission asset owner in the UAE, is already expanding its international footprint across the GCC, UK and North Africa by investing in some of the world’s most innovative transmission projects.

Ian Brown, Managing Director at Arrowpoint Advisory, concluded: “We are delighted to have supported the shareholders on this transaction and are excited to see what they will achieve in the next stage of their growth, under their new ownership with TAQA at this very interesting time for Grid and Transmission projects.”

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