Recently, the Jamaica Public Service has been in the news as the cash-rich Abu Dhabi National Energy Company (TAQA) took over 40 per cent of its business. Very little is known about the Middle-Eastern oil company, but here are some facts about the company which could, in the very near future, control your light bill.

TAQA was born in July 2005 when its initial public offer (IPO) was issued on the Abu Dhabi Stock Market (ADSM). This enabled investors to own shares in the previously state-owned assets of ADWEA (Abu Dhabi Water and Electricity Authority). That IPO was heavily oversubscribed and investors reaped the rewards of a fast-growing company. Today, the company's total assets are in excess of AED 68 billion (US$18.5 billion, J$1.68 trillion) with operations in nine markets across the world and 2,800 employees.

A list of its financial milestones includes:

Strong internal investment community with 93 per cent of allocation made to investors outside the Middle East.

Six Independent Water and Power Producers (IWPPs) in the United Arab Emirates.

Operations that handle 85 per cent of water and electricity in Abu Dhabi.

11,000 megawatts of installed power.

591 million imperial gallons per day desalination capacity.

In November 2006 TAQA issued the largest-ever international bond offer at US$3.5 billion (J$316 billion), the largest long bond at US$1.5 billion (J$1.35 trillion) and the largest euro benchmark at £750 million (J$97 billion).

Awarded 'Emerging Market Deal of the Year' and 'Middle East Corporate Bond of the Year' by EuroWeek in 2006.

Highlights of TAQA's results for the first nine months of 2008:

Basic earnings per share rose 275 per cent for the first three quarters of the year.

The oil and gas segment contributed 60 per cent of the total segment profits.

Net cash from operating activities (including working capital movements) increased by 323 per cent.

highlights of the results for the third quarter of 2008:

Net profit after minority interests for the quarter increased by 448 per cent.

Revenue in the third quarter grew 81 per cent.

Basic earnings per share rose 306 per cent