Abu Dhabi National Energy Company to transfer water and electricity assets to Taqa - Arabianbusiness:
Shareholders of the Abu Dhabi National Energy Company (PJSC) have voted to transfer the majority of Abu Dhabi Power Corporation’s water and electricity assets to Taqa, creating one of the top-10 integrated utilities companies in the region by regulated assets.
The transaction is scheduled to close in the third quarter of the year.
Once the transaction is completed, Taqa’s assets will include majority stakes in almost all power and water generation plants in the UAE.
It will also continue to operate in the USA, Oman, Morocco, India, Saudi Arabia and Ghana, as well as on oil and gas operations in the UK, Netherlands, Canada and Iraq.
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| Once the transaction is completed, Taqa’s assets will include majority stakes in almost all power and water generation plants in the UAE. |
Shareholders of the Abu Dhabi National Energy Company (PJSC) have voted to transfer the majority of Abu Dhabi Power Corporation’s water and electricity assets to Taqa, creating one of the top-10 integrated utilities companies in the region by regulated assets.
The transaction is scheduled to close in the third quarter of the year.
Once the transaction is completed, Taqa’s assets will include majority stakes in almost all power and water generation plants in the UAE.
It will also continue to operate in the USA, Oman, Morocco, India, Saudi Arabia and Ghana, as well as on oil and gas operations in the UK, Netherlands, Canada and Iraq.
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