TAQA Buys Stake In 100-MW Indian Hydroelectric Project

Law360, New York (January 14, 2013, 9:37 PM EST) -- Abu Dhabi National Energy Co. PJSC, better known as TAQA, continued its shopping spree with its late-Sunday announcement that it has purchased a stake in a 100-megawatt Indian hydroelectric facility with a view to acquiring the whole project.

Abu Dhabi National Energy, which belongs to a United Arab Emirate-owned entity and goes by its stock code, TAQA, now owns a minority interest in Himachal Sorang Power Pvt. Ltd., the special-purpose vehicle behind the 5.8-billion-rupee ($106.4-million) Sorang Hydroelectric Project, or SHEP.

“This investment will both complement our...
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