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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.

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