ABU DHABI / WAM
ADQ, an Abu Dhabi-based investment and holding company, on Tuesday announced that it has entered into an agreement to monetise a stake of 8.6 percent in Abu Dhabi National Energy Company PJSC (Taqa) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.
Taqa is a diversified utilities and energy group headquartered in Abu Dhabi, and listed on the Abu Dhabi Securities Exchange. 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, which aims to become a global leading clean energy company, targeting more than 50 Gigawatts capacity by 2030.