Taqa set to acquire stake in Kurdistan power plant
Abu Dhabi National Energy Company buying up 50% interest in gas plant
Abu Dhabi National Energy Company (TAQA) has announced that it has agreed to acquire a holding in a 1,000 MW power plant in Iraq’s Kurdish region. The deal with Mass Global Investments Company Limited (MGIC) will see Taqa take a fifty percent stake in a gas-fired plant located near Sularmaniyah in Kurdistan. Operating since 2009, the plant is currently constructing an additional 250 MW of capacity to add to an existing operating capacity of 750 MW.
Taqa currently has operations spread across 13 markets, including Canada, India, the UK and across the Middle East. The company owns seven power plants across the UAE alone, producing almost 10,800 MW of power between them. Last year the firm also acquired a 19.9 percent stake in WesternZagros, a company with experience in building and operating projects in the Kuridstan region of Iraq.