Abu Dhabi’s ADQ and TAQA sign $6bln agreement with Kazakhstan’s sovereign fund

Abu Dhabi’s ADQ and TAQA sign $6bln agreement with Kazakhstan’s sovereign fund

UAE - The UAE will invest up to $6 billion in Kazakhstan's energy sector, it has been announced. The Abu Dhabi Developmental Holding Company — known as ADQ — and the Abu Dhabi National Energy Company — known as TAQA — have entered into an agreement with the Central Asian country’s sovereign wealth fund, Samruk-Kazyna, according to Al-Arabiya. ADQ Holdings, TAQA and Samruk-Kazyna will explore three new power generation projects in Kazakhstan, including a 2 gigawatt photovoltaic power plant, a 2 GW wind farm, and a 1 GW combined cycle gas power plant. Both ADQ Holdings and TAQA will own a 51 percent stake in each project, while Samruk-Kazyna will retain the remaining stake. var width=document.documentElement.clientWidth;if(width>=320&&width<728){}; googletag.cmd.push(function(){try{var d=document.documentElement.clientWidth;var a;var c="/21857811890/en.zcom/";var b;if(d>=320&&d<728){a=[300,250];b=["mobile_mr_story"]}else{a=[300,250];b=["MR_Story"]}var h="MR_Story";var g=googletag.defineSlot("/21857811890/en.zcom/",a,"div-gpt-ad-MR_Story").setTargeting("type",b).addService(googletag.pubads());gptAdSlots.push(g);if(h!="MR_Story"){googletag.pubads().collapseEmptyDivs(true,true)}googletag.pubads().enableSingleRequest();googletag.enableServices();if((h=="PSB_Left")||(h=="mobile_psb_left")||(h=="PSB_Top")||(h=="mobile_psb_top")||(h=="PSB_Bottom")||(h=="mobile_psb_bottom")||(h=="PSB_Middle")||(h=="mobile_psb_middle")||(h=="leaderboard_home")||(h=="leaderboard_bottom_home")||(h=="mobile_leaderboard_home")||(h=="mobile_leaderboard_bottom_home")){setInterval(function(){googletag.pubads().refresh([g])},240000)}}catch(f){console.log("Error loading Ad banner "+h)}}); try{googletag.cmd.push(function(){googletag.display("div-gpt-ad-MR_Story")})}catch(e){console.log("Error displaying Ad banner "+bannerName)}; TAQA will participate in the operations and maintenance of all three projects once they come online, according to a statement issued on Wednesday. The agreement was signed in the presence of the Prime Minister of the Republic of Kazakhstan Askar Mamin, and Suhail Al-Mazrouei, UAE’s minister of energy and infrastructure, by the CEOs of the three companies involved. Copyright: Arab News © 2021 All rights reserved. Provided by