(MENAFN) Abu Dhabi National Oil Company and Taqa are going to become part of Mubadala Investment Company to be stockholders in Masdar, in a step that is going to aid in growing the clean energy corporation's renewable power volume to over 50 gigawatts by the year 2030.
According to the Abu Dhabi Media Office post on Twitter on Wednesday, the global clean energy powerhouse, inaugurated by Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, Sheikh Mohamed bin Zayed, is going to help the Emirates’ part in the power conversion process.
Based on the media office statement, as part of the cooperation, both Adnoc and Taqa are going to become stockholders in Masdar, which was formerly completely owned by Mubadala. The agreement is going to aid in making a "global champion in renewables and green hydrogen", and is going to quicken development towards the Emirates strategic target of attaining carbon neutrality.
Sheikh Mohamed declared, "fifteen years ago, the launch of Masdar was a landmark investment in the diversification and long-term sustainability of our energy sector. Today, a new strategic partnership between Adnoc, Mubadala and Taqa will further strengthen Masdar’s position as a global leader in renewable energy."
MENAFN02122021000045013568ID1103291619
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.