Abu Dhabi National Energy Company PJSC, known as TAQA, is evaluating an investment of up to $2.5 billion in the power businesses of Indian billionaire Gautam Adani, newspaper Economic Times reported on Friday, citing sources.
The investment, anywhere between $1.5 billion to $2.5 billion, could be made in single or multiple group businesses, including picking up a near-20% stake in Adani Energy Solutions the report said.
Adani’s power and energy businesses include entities like Adani Energy Solutions, formerly known as Adani Transmission, Adani Power and Adani Green Energy , but both sides believe there is maximum synergy between TAQA and Adani Energy Solutions, the report added.
