3 Emirati companies conclude agreements to acquire a stake in "Masdar"

The Abu Dhabi National Energy Company "TAQA", the Abu Dhabi National Oil Company "ADNOC" and the Mubadala Investment Company "Mubadala" have entered into agreements to purchase "TAQA" and "ADNOC" for stakes in Abu Dhabi Future Energy Company “Masdar” from “Mubadala”.

The deal estimates the total value of "Masdar" at 7 billion UAE dirhams, equivalent to $ 1.9 billion, based on a 100% ownership percentage, CNN reported. NBC Arabia.

Under these agreements, TAQA will acquire a controlling stake of 43% of Masdar's assets, while Mubadala will retain a 33% stake and own ADNOC has a 24% stake.

In the field of green hydrogen, ADNOC will acquire a controlling stake of 43% of the new joint venture of "Masdar" specialized in this field, while it will acquire a controlling stake of 43% in the new joint venture of Masdar. Mubadala will own a 33% stake and Taqa will have a 24% stake in this project.

Under these agreements, TAQA will contribute its rights to own a minimum of 40% of renewable energy projects in the Emirate of Abu Dhabi.