Abu Dhabi National Energy Co. (TAQA) is considering investments of $1.5-2.5bn in Gautam Adani s power businesses, including thermal generation, transmission, clean energy, and green hydrogen. At present, TAQA is looking to buy up to 19.9% of Adani Energy Solutions, originally Adani Transmission, for approximately $2.2bn at current prices. Whilst talks have taken place about investing in other Adani Group firms, Adani Energy Solutions reportedly has maximum synergy with TAQA for a strategic alliance.
TAQA, among the largest integrated utilities in Europe, West Asia and Africa and also the second largest stock on Abu Dhabi Securities Exchange (ADX), is keen to deploy $1.5-2.5 billion in Adani Group firms or in a single entity, said the sources mentioned above. However, both sides believe there is maximum synergy between TAQA and Adani Energy Solutions, formerly Adani Transmission, to forge a strategic alliance and work together on projects in North Africa and West Asia.
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