Skip to content Skip to Search
Skip navigation

Abu Dhabi to monetise stake in state energy company TAQA

Building, Train, Transportation TAQA
Abu Dhabi-listed TAQA has significant investments in power and water generation, transmission and distribution assets.

Abu Dhabi-based investment and holding company ADQ has entered into an agreement to monetise an 8.6 percent stake in Abu Dhabi National Energy Company (TAQA) to Multiply Group, Abu Dhabi Pension Fund and other prominent investors, WAM, the UAE state news agency, reported.

Abu Dhabi-listed TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations.

The company operates in 11 countries globally and has recently taken a controlling stake in Masdar’s renewable business, along with ADNOC and Mubadala, targeting more than 50 gigawatts of capacity by 2030.

ADQ CEO Mohamed Hassan Alsuwaidi said the transaction will facilitate increased free float in TAQA and Abu Dhabi’s capital markets.

Latest articles

Saudi arabia water

$4bn set aside for Saudi water projects

Saudi Arabia will spend $4 billion by the end of the decade on recycling over 2 billion cubic metres of water, about 70 percent of the country’s renewable water sources, an official said this week.  Speaking at the World Water Forum in Indonesia, Mohammed bin Zaid Abuhid, head of the General Authority for Irrigation, outlined […]

Cigarette sellers in Aswan, Egypt. US company Philip Morris says it wants to give smokers in Egypt 'better options than cigarettes'

US cigarette giant buys slice of Egyptian rival

The American tobacco giant Philip Morris International (PMI) has acquired a minority stake in Egypt’s largest cigarette manufacturer. PMI, which owns brands such as Marlboro, L&M, Merit and Parliament and is the world’s top tobacco company by market value, has bought 14.7 percent of Egypt’s Eastern Company, which also includes cigars and pipe tobacco in […]

Visitors admire the House of the Blackheads in Riga, which Eagle Properties hope will be 'the new centre of Europe'

Abu Dhabi developer spots opportunity in Latvia

Abu Dhabi developer Eagle Hills Properties announced a €3 billion ($3.25 billion) investment in the Latvian capital city of Riga, as the UAE continues its investment drive into Europe. Eagle Hills’ Riga Waterfront, which was unveiled on Thursday, will ultimately encompass 8,000 luxury homes for 30,000 residents on a redeveloped site along 5 kilometres at […]

Passengers at Muscat International Airport. Oman plans for it to be joined by six more locations

Oman plans 6 new airports in tourism push

The majority of Oman’s six new airports are expected to be operational by 2028 and 2029, as part of the government’s initiative to promote tourism, a senior government official has said. Work is under way on designing the new projects, which will increase the number of airports to 13, Naif Al Abri, chairman of the Civil […]