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Taqa buys 50% Marubeni stake
- United Arab Emirates: Monday, March 23 - 2009 at 10:59
Abu Dhabi National Energy Company (Taqa) has paid $320m to acquire a 50% equity stake in Marubeni Corporation's electric power portfolio in the Caribbean. The Marubeni portfolio has equity stakes in power generation and transmission facilities with a combined capacity of 2,300 megawatts in Jamaica, the Bahamas, Trinidad and Tobago and Curacao. Taqa's role will be operational, with its 50% interest represented at board level at each power plant and holding key management positions.
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