Introduction
The Taqa company, the Abu Dhabi National Energy Company PJSC, is considering entering as a majority shareholder in Naturgy, a Spanish energy company. This move has caught the market’s attention as Taqa is an energy company specializing in oil, water and gas, and is majority owned by the UAE government. This article will explore who Taqa is and what this potential entry as Naturgy’s majority shareholder means.
Who is Taqa?
Taqa is an energy company based in Abu Dhabi, United Arab Emirates. It was established in 2005 and is one of the ten most important companies in the energy sector in the region. The company operates in several countries including the Netherlands, Canada, Ghana, India, Morocco, Oman, Saudi Arabia, the United Kingdom and the United States. Taqa specializes in oil, water and gas, but is also increasing its bet on renewable energy, in line with international trends and the agreements of the COP28 that were recently held in Dubai, United Arab Emirates.
The possible entry as majority shareholder of Naturgy
The possible entry of Taqa as a majority shareholder of Naturgy has generated anticipation in the market. This move could mean a change in Naturgy’s shareholding, as Taqa would take the place left by CVC and GIP, who would leave the shareholding. This could have significant implications for the Spanish company and its future.
Taqa’s commitment to renewable energies
Although Taqa is a company specialized in oil, water and gas, it is increasing its bet in renewable energy. This decision has been accelerated after COP28, which took place in Dubai, where the beginning of the end of the era of fossil fuels was determined. This has generated a growing interest on the part of investors in green projects and has boosted Taqa’s bet in this direction.
The leaders of Taqa
The non-executive chairman of Taqa is Mohamed Hassan Alsuwaidi, who also holds the position of Minister of Investments of the United Arab Emirates. The company’s CEO is Jasim Husain Thabet, who is also vice chairman of Masdar, Taqa’s renewables subsidiary. Recently, Masdar signed an agreement with Iberdrola to develop offshore wind projects with a joint investment of up to 15 billion euros. This demonstrates Taqa’s interest in the Spanish market and its commitment to renewable energies.
Conclusions
The possible entry of Taqa as a majority shareholder of Naturgy is a move that has caught the attention of the market. Taqa is an energy company based in the United Arab Emirates and specializes in oil, water and gas. However, the company is increasing its commitment to renewable energy and has signed important agreements in this area. His entry as the majority shareholder of Naturgy could have significant implications for the Spanish company and its future. This situation needs to be followed closely to see how it develops.