Adani Power's strength will increase further, Abu Dhabi's company is going to invest 2 billion

Abu Dhabi National Energy Company TAQA wants to expand its business in India with Adani. For this, the company is preparing to make a big investment in Adani Group's company.

There is good news for Adani Group for the second consecutive day. Because even after the Hindenburg report, the investors' faith in Adani Group remains intact. Because of which they are investing a lot of money in Adani's companies. Recently American company GQG had invested 4242 crores in Adani Power. Now the trust of Abu Dhabi has started increasing in Adani's companies. Due to which Abu Dhabi National Energy Company PJSC has considered increasing business in India with Adani. Abu Dhabi's company wants to invest 2 billion in Gautam Adani's electricity business i.e. Adani Green Energy. This will give speed from thermal production to transmission, clean energy and green hydrogen.

TAQA is the largest
stock on the Abu Dhabi Securities Exchange

According to ET, TAQA does its business in Europe, West Asia and Africa. In addition, it is the largest stock on the Abu Dhabi Securities Exchange. TAQA wants to invest up to $ 1.5-2.5 billion in Adani Power Company of Adani Group. TAQA and Adani Energy Solutions are looking forward to working together on a project.

TAQA wants to take 19.9 per cent stake in the company from the market and promoters in the company. At present, the value of Adani Green Solution is Rs 91 thousand 660 crore with 68.28 percent stake of the promoters. In such a situation, the Abu Dhabi firm wants to take 20 percent stake with the current price and valuation of Rs 18,240 crore. On Thursday, the stock of Adani Green Energy closed at Rs 821 per share.

What does TAQA company do?

TAQA works for energy supply in the Arab country. The investment of this company is on power generation, transmission and distribution. Apart from this, it also supplies oil and gas. The company has presence in UAE, Saudi Arabia, Canada, Ghana, India, Iraq, Morocco, Oman, Netherlands, UK and USA.

Electricity is also supplied in India

TAQA has a 250 MW thermal power plant in Tamil Nadu, India. Which generates and sells electricity to the Tamil Nadu Generation and Distribution Corporation (TANGEDCO), the state's power generation and distribution company.