Abu Dhabi’s Adnoc and Taqa on 21 June entered into binding agreements with state investor Mubadala to acquire stakes in the latter’s Masdar clean energy subsidiary. The “three Abu Dhabi national champions” aim to “turn Masdar into one of the largest renewable energy companies in the world and a pioneer in green hydrogen.”

The trio announced the planned acquisition in late 2021 (MEES, 3 December 2021), through which they will invest in two new Masdar ventures – Masdar Renewable Energy and Masdar Green Hydrogen (see chart). This week the partners valued the two ventures at $1.9bn. (CONTINUED - 561 WORDS)