Gautam Adani Group Companies: Abu Dhabi National Energy Company PJSC (TAQA) is looking to double down on business in India and is gearing up to make a major investment in Gautam Adani’s power business, Adani Green Energy, which covers everything from thermal generation to transmission, clean energy. And offers services up to Green Hydrogen Spread. up to
According to an ET report, TAQA operates in Europe, West Asia and Africa. In addition, it is the largest stock on the Abu Dhabi Securities Exchange. According to the report, he wants to invest up to $1.5-2.5 billion in the Adani Group company. Adani Transmission and TAQA have good synergy, while TAQA and Adani Energy Solutions want to work together on a project.
TAQA wants to market the company and acquire 19.9 percent stake in the company from the promoters. Adani Green Solutions is currently valued at Rs 91,660 crore in which the promoters hold 68.28% stake. In such a case, the Abu Dhabi firm wants to take 20 percent stake at the current price and a valuation of Rs 18,240 crore. Adani Green Energy’s stock closed at Rs 821 per share on Thursday.
What does TAQA Company do?
The company was established in 2005 and provides energy in the Arab country. The company invests in power generation, transmission and distribution. Apart from this, it also supplies oil and gas. Its assets are spread across UAE, Saudi Arabia, Canada, Ghana, India, Iraq, Morocco, Oman, Netherlands, UK and USA.
It also provides electricity in India.
The company has a 250 MW thermal power plant in Tamil Nadu, India. It generates and sells electricity to the state’s power generation and distribution company, the Tamil Nadu Generation and Distribution Corporation (TANGEDCO). It has presence in Himachal Pradesh.
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