, United Arab Emirates

TAQA, ADNOC, Mubadala acquire stake in Masdar

They will hold the shares in Masdar’s renewable and green hydrogen business

Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) have completed the transaction to hold a stake in the Abu Dhabi Future Energy Company (Masdar) to turn the company into a “global clean energy powerhouse.”

In a statement, Masdar said TAQA will hold the largest stake in the renewable business with 43%, whilst Mubadala and ADNOC hold 33% and 24%, respectively.

Meanwhile, ADNOC will lead Masdar's green hydrogen business with 43% shares, whilst 33% will be held by Mubadala and 42% by TAQA.

TAQA has paid $1.02b in cash for its shares in Masdar. 

Masdar said it aims to reach at least 100 gigawatts (GW) of renewable energy capacity globally by 2030 with wind and solar accounting for the largest share of the total. It also aims to develop in excess of 200GW of renewable to reinforce its position as a world leader in the sector.

The company also aims to get its annual green hydrogen production capacity to up to one million tonnes by 2030 which can save over six million tons of carbon dioxide emissions.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!