#AbuDhabi's Masdar eyeing acquisition targets in US, Europe expansion | Reuters

Abu Dhabi's Masdar eyeing acquisition targets in US, Europe expansion | Reuters

Abu Dhabi state-owned renewable energy firm Masdar is in discussions with potential acquisition targets in the U.S. and is also looking to expand in Europe, Gulf Arab countries and elsewhere, its chief financial officer said on Wednesday.

"We plan to grow significantly in the North America market, in the U.S.," Niall Hannigan said, adding it "is very much a market where M&A is going to be absolutely critical."

Masdar is in active discussions and U.S. President Joe Biden's $430 billion Inflation Reduction Act "reinforced" its view of the U.S. market, he said.

Masdar is also looking to grow in Europe where its primary markets are southern Europe, the Balkans and eastern Europe, Hannigan said, adding it will continue to grow in the UK, Poland, Serbia, Montenegro and Greece, while the Gulf Arab countries including Saudi Arabia will also be "a huge area of growth." Central Asia, Asia-Pacific and Africa are also areas for future growth, he said.