x Abu Dhabi, UAESunday 23 July 2017

Abu Dhabi's Taqa acquires stake in Indian hydroelectric firm

Abu Dhabi Sustainability Week: The Abu Dhabi National Energy Company, known as Taqa, yesterday said it had bought a minority stake in an Indian hydroelectric provider.

Construction of the 100 megawatt Sorang hydroelectric project is 85 per cent complete and the plant is expected to begin operations this year. Courtesy Taqa
Construction of the 100 megawatt Sorang hydroelectric project is 85 per cent complete and the plant is expected to begin operations this year. Courtesy Taqa

As a gathering of about 30,000 people in Abu Dhabi brings the future of the energy sector into sharp focus this week, UAE companies are exploring opportunities further afield.

Yesterday, the Abu Dhabi National Energy Company, known as Taqa, said it had bought a minority stake in an Indian hydroelectric provider.

“This investment will … support Taqa’s nascent renewable energy stream,” said Carl Sheldon, the chief executive.

Abu Dhabi Sustainability Week brings together policymakers, thought leaders, private sector experts and scientific scholars to take part in a series of discussions, panels and events that advance the deployment of renewable energy and clean technology.

“Abu Dhabi Sustainability Week is a testament to the legacy of sustainability instilled by our founding father, the late Sheikh Zayed bin Sultan Al Nahyan,” said Dr Sultan Ahmed Al Jaber, the chief excecutive of Masdar.

Expected to attend are Queen Rania of Jordan, François Hollande, the French president, and Cristina Fernández de Kirchner, Argentina’s president.


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