UAE – Mubasher: Abu Dhabi National Oil Company (ADNOC) is holding preliminary talks to acquire a significant minority stake in Masdar, the Abu Dhabi-based renewable energy developer, sources recently told Bloomberg.
The sources referred that the potential acquisition could be one of the green power industry’s largest deals in 2021.
ADNOC is interested in Masdar’s solar parks, wind farms, waste-to-energy projects, and electric vehicle charging networks.
Hence, the deal would help the oil company to diversify its portfolio in more carbon-neutral assets and transform its fossil fuel profits into alternative energy sources.
The sources added that Abu Dhabi National Energy Company (TAQA) has previously considered a potential investment in Masdar, which is owned by Mubadala Investment Company.
