Skip to content Skip to Search
Skip navigation

TAQA approached as part of Indian energy firm’s fund raising

By Pramod Kumar
Creative Commons
The company plans to first carve out its renewable energy assets into a special purpose vehicle and sell a stake subsequently to raise funds

UAE’s Abu Dhabi National Energy Company (TAQA) is among a list of global utilities and energy companies approached by India’s NTPC Ltd, as the power utility firm starts fundraising for its clean energy platform, financial daily Economic Times reported.

The company plans to first carve out its renewable energy assets into a special purpose vehicle and sell a stake to raise funds as part of the government’s National Monetisation Pipeline.

Preliminary discussions have been held with Abu Dhabi-listed TAQA, Malaysia’s state-owned Petronas, Canadian pension fund CPP Investment Board, Brookfield, KKR & Co. and Copenhagen Infrastructure Partners, among others, to measure their interest, the report said, citing informed sources.

NTPC is seeking to raise 50 billion Indian rupees ($630 million) by selling a maximum 49 percent stake in its green energy subsidiary and has appointed SBI Capital Markets as an advisor, the newspaper reported.

NTPC has a 2.3 GW renewable energy capacity under operation and 3.4 GW being built. It has a target of 15 GW renewable energy capacity by 2026.

Latest articles

Head, Person, Face

India’s Adani set to raise $1bn from Middle East wealth fund

Adani Group, led by Indian billionaire Gautam Adani, is in advanced discussions with an unnamed sovereign wealth fund from the Middle East to raise up to $1 billion for its airports business, a news report said. The first tranche of the fundraising will be finalised by the end of the fourth quarter of 2024, Economic […]

Saudi Arabia launches e-karting racing tracks in 6 cities

Six cities in Saudi Arabia are set to get Hot Wheels e-karting racing tracks. The indoor e-karts will be a venture between Saudi Entertainment Ventures (Seven), part of Qiddiya Investment Company (QIC), and US toy maker Mattel. The Hot Wheels e-karting will be available in entertainment complexes such as Riyadh, Makkah, Taif, Al Madinah, Tabuk, and Jazan. In January, Seven […]

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]