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Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) have completed a deal with Masdar where they will become shareholders in the Abu Dhabi-based clean energy company. This will result in Masdar’s growth as it will expand and cover “renewable power, green hydrogen and other enabling clean energy technologies, a statement said.” It is an effort to help the UAE reach its Net Zero by 2050 strategic initiative and to meet the world’s demand for clean energy. With this partnership, Masdar’s target for renewable energy capacity is 100GW and it aims to increase production of green energy to one million tons by 2030.

Abu Dhabi’s ADNOC, TAQA And Mubadala Complete Deal To Acquire Masdar Stakes

Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) have completed a deal with Masdar where they will become shareholders in the Abu Dhabi-based clean energy company. This will result in Masdar’s growth as it will expand and cover “renewable power, green hydrogen and other enabling clean energy technologies, a statement said.” It is an effort to help the UAE reach its Net Zero by 2050 strategic initiative and to meet the world’s demand for clean energy. With this partnership, Masdar’s target for renewable energy capacity is 100GW and it aims to increase production of green energy to one million tons by 2030.

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