Abu Dhabi National Energy Company, better known as Taqa, Mubadala Investment Company and Adnoc have completed a deal to become shareholders in the emirate’s flagship clean energy champion Masdar.
This transaction — announced last year by President Sheikh Mohamed — will help Masdar grow rapidly on a global scale under an expanded mandate that covers renewable power, green hydrogen and other enabling clean energy technology, the companies said in a filing to the Abu Dhabi Securities Exchange on Thursday.
“As the founding chief executive of Masdar, I am excited to see Abu Dhabi’s energy leaders coming together to take Masdar to the next level,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, managing director and group chief executive of Adnoc, and chairman of Masdar.