Abu Dhabi – Mubasher: Abu Dhabi is considering selling a 10% stake in Abu Dhabi National Energy Company (TAQA), which could be worth over $4 billion based on its current market price, sources told Bloomberg.

This step is part of Abu Dhabi's objective to attract more international investments to its huge assets.

Large global utility companies and other financial investors could invest in this transaction, and initial non-binding bids are forecast to be submitted in May, the sources referred.

Investors could express their interest in TAQA’s plans to cut exposure to oil and natural gas assets and focus on renewable energy, as the company seeks to generate 30% of its power from solar and wind energy over the next decade.

It is noteworthy to mention that in July 2020, TAQA completed its merger deal with Abu Dhabi Power Corporation (ADPower), establishing one of the largest utility companies in Europe, the Middle East, and Africa (EMEA) region.