Abu Dhabi TAQA, Dubal Holding to acquire Emirates Global’s power assets
Abu Dhabi National Energy Company PJSC (TAQA) and Dubal Holding plan to acquire Emirates Global Aluminium's (EGA) power generation assets in the UAE as part of plans to expand clean energy development.
TAQA and Dubal Holding, the investment vehicle for energy and commodities, will hold 50 percent share each of EGA's power assets, the Abu Dhabi listed energy company said in a bourse filing on Wednesday.
No terms of the acquisitions were disclosed.
The power generated from the assets would be supplied to the grid under a long-term power purchase agreement with despatch of the assets through EWEC’s load despatch centre.
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