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TAQA considering Turkey energy investment

TAQA delegation holds investment talks with Turkey's Energy Ministry

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TAQA says that Turkey is an attractive market for investment. (GETTY IMAGES)
TAQA says that Turkey is an attractive market for investment. (GETTY IMAGES)

Abu Dhabi National Energy Company (TAQA) has met with representatives from Turkey's Energy Ministry to identify investment possibilities in Turkey's energy sector. The TAQA delegation included His Excellency Hamad Al-Hurr Al-Suqaidi, TAQA's chairman, and TAQA CEO Carl Sheldon.

As a consequence of the meetings, TAQA and the Energy Ministry had announced the formation of a joint committee to further investigate investment potential in Turkey. Speaking on the visit, HE Hamad Al-Hurr Al Suwaidi said, "This visit has further strengthened the relationship between Turkey and Abu Dhabi, and has been a successful follow-up to the official visit made in March by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces."

TAQA CEO, Carl Sheldon added, "Developing our international power business in the Middle East and North Africa region is a core to TAQA's growth strategy. We have ambitious plans for growth and consider Turkey to be an attractive market offering a range of investment opportunities."

TAQA, earlier this month, announced a rise in Q1 revenues of 5% over the same period last year, with operating expenses for Power & Water increased from US $105 million in Q1 last year, to $113.5 million in the first quarter of this year.

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