Abu Dhabi's Transco gets a new CEO
Transco is now a Taqa subsidiary as part of deal with ADPower
Dubai: Abu Dhabi National Energy Company (Taqa) confirmed Dr. Afif Saif Al Yafei as CEO at its subsidiary, Abu Dhabi Transmission and Despatch Company (Transco).
In a statement, Jasim Husain Thabet, Group CEO and Managing Director at Taqa, said: “With a strong track record of achievements in the energy industry, substantial technical expertise and solid leadership experience, Dr. Afif will further strengthen Transco’s role in guaranteeing the security and stability of the sector to ensure it remains a reliable, efficient, sustainable and value-generating system that is fit for the future.”
He joins from National Central Cooling Company PJSC (Tabreed), where he served in various roles, including executive vice-president of asset management and senior vice-president of regional businesses. Prior to Tabreed, Afif spent more than a decade in the oil and gas industry, including senior positions at Adnoc Group.
Dr. Afif’s appointment follows the conclusion of Taqa’s successful transaction with Abu Dhabi Power Corporation (ADPower) on July 1, which created one of the largest publicly listed companies in the UAE by market capitalization and a Top 10 utility player in the EMEA region by regulated assets. As part of the transaction, the majority of ADPower’s power and water generation, transmission and distribution assets, including Transco, were transferred to Taqa in exchange for 106,367,950,000 new shares.