TAQA New World

TAQA New World is a 100% owned subsidiary of Abu Dhabi National Energy Company (TAQA) PJSC, an integrated utility listed on the Abu Dhabi Securities Exchange. The subsidiary was created in 2005 to hold TAQA's international power generation assets following the acquisition of CMS Generation from CMS Energy. It functions as the legal entity through which TAQA owns and operates power plants outside the United Arab Emirates.

TAQA New World does not raise third-party capital and is not structured as a fund. It is a corporate investor that deploys capital directly from TAQA's balance sheet. The entity does not market to institutional allocators and is not accessible to external limited partners.

The confirmed portfolio includes the Red Oak Power Plant in New Jersey through a tolling agreement, a stake in the Takoradi Thermal Power Plant in Ghana via the Takoradi International Company (TICO) joint venture with the Volta River Authority, and the Jorf Lasfar Power Plant expansion in Morocco. TAQA has also been associated with Carlyle Infrastructure Partners as a limited partner, though specific fund vintage details remain undisclosed.

Peter Barker-Homek served as CEO of TAQA and TAQA New World during its formative period, including the CMS Generation acquisition that established the platform. Richard Mukhtar subsequently served as Managing Director, overseeing the subsidiary's international asset portfolio. Neither executive remains publicly associated with the entity in recent years, and current leadership is not publicly disclosed.

The subsidiary structure insulated TAQA's domestic Abu Dhabi utility operations from the regulatory and commercial risks of international power markets. It also allowed the parent company to hold assets under distinct legal entities in each operating jurisdiction — a structure that simplified project financing, tax treatment, and eventual divestiture optionality without commingling liabilities across TAQA's broader balance sheet.