UAE’s Biggest Power Firm Taqa Plans Green Bonds and M&A Deals - Bloomberg
The largest power producer in the United Arab Emirates plans to sell bonds and acquire assets this year, according to the company’s chief executive officer.
Bolstered by gains at its oil and gas businesses, the utility known as Taqa wants to aims to expand in renewable energy projects as well as its main industries of power generation and water desalination. Abu Dhabi National Energy Co., as it’s officially known, posted a one-third jump in profit last year, helped by oil prices that averaged nearly $100 a barrel last year.
“Our focus is on growth,” Jasim Husain Thabet said in an interview in Abu Dhabi. “We’re in discussions and, if there are deals that bring value to the shareholders, we’ll follow through and execute.”
The company is also looking at issuing “several hundred million dollars” of green bonds for specific projects in 2023, he said.
No comments:
Post a Comment