State-owned Abu Dhabi National Energy Co swung to a third-quarter loss on Wednesday hurt by increased costs and lower natural gas prices, which offset a rise in revenue.
TAQA, which is 75-percent owned by the Abu Dhabi government, reported a third-quarter net loss of 288 million dirhams ($78.4 million), compared with a profit of 537 million dirhams a year ago, it said in a statement.
Results were impacted by construction costs of 2.73 billion dirhams which the company booked for the Jorf Lasfar power plant in Morocco.
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