TAQA, a major energy company in Europe, the Middle East, and Africa, has agreed to acquire GS Inima, a global leader in water treatment and desalination, for approximately $1.2 billion. This purchase will make GS Inima a fully integrated part of TAQA and help the company expand its international water business.
GS Inima, based in Madrid, runs around 50 projects in countries such as Spain, Brazil, Mexico, the U.S., and Oman. It specializes in water desalination and treatment, including the treatment of industrial wastewater. This move gives TAQA access to fast-growing markets in Europe, Latin America, and Asia, strengthening its position as a global utility leader.
By combining its resources, TAQA will increase its water capacity by 171 million gallons per day, bringing its total to 1,421 million gallons. It also aims to use energy-efficient reverse osmosis technology by 2030. GS Inima’s assets will add more drinking and wastewater treatment capacity, serving over a million people.
This deal is expected to improve TAQA’s financial results, with increased earnings in 2024. GS Inima operates under long-term contracts with stable cash flows. Its digital tech and R&D focus will help TAQA become more efficient and innovative.
The acquisition supports TAQA’s recent efforts to grow its water services, both locally and internationally, including projects in Morocco and Uzbekistan.
The deal is subject to approvals and is expected to close in 2026.
KEY QUOTE:
“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.”
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director
