Home Industry Energy ADQ monetises minority stake in Taqa to Multiply Group, Abu Dhabi Pension Fund, other investors Abu Dhabi-based Taqa has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations by Gulf Business September 14, 2022 Abu Dhabi-based investment and holding company, ADQ has entered into an agreement to monetise a stake of 8.6 per cent in Abu Dhabi National Energy Company (Taqa) to Multiply Group, Abu Dhabi Pension Fund and other prominent investors, according to the state news agency, WAM. 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 50GW capacity by 2030. Read: Mubadala, Taqa ink agreements to invest in Uzbekistan’s power sector Mohamed Hassan Alsuwaidi, MD and CEO of ADQ, said: “The transaction underlines our efforts to attract long-term institutional partners and leverage monetization opportunities that ensure we generate sustainable capital growth and a balanced portfolio of diversified investments. We also believe this transaction will support our aspiration to facilitate increased free float in TAQA and Abu Dhabi’s capital markets.” As a majority-owned portfolio company of ADQ serving as its key growth platform within the utilities sector, TAQA remains a key asset within ADQ’s energy and utilities portfolio supporting its activities in accelerating the UAE’s clean energy transition while generating sustainable financial returns. In recent news, Flat6Labs, in partnership with DisruptAD, the venture platform of ADQ, has announced the 10 new startups that have been selected to receive seed funding and mentorship under its Ignite programme. Representing the third cycle of the programme, this cohort was meticulously vetted and selected from over 700 applicant organisations from across the globe. Read: ADQ’s venture platform, Flat6Labs reveals startups under Ignite programme’s new cycle Tags Abu Dhabi ADQ energy finance Investment Taqa 0 Comments You might also like AD Ports signs concession deal to operate Egypt’s Safaga terminal Oil jumps over 2% amid further Red Sea vessel attacks Strong cash flows for UAE stocks in Christmas Day trade Institutional investors were hungry for Dubai, Abu Dhabi Stocks in 2023