Abu Dhabi to tap subcontinent energy market

Abu Dhabi National Energy Company (Taqa) and Abu Dhabi-based Oasis International Power said on Wednesday they plan to build water and power plants in Asian subcontinent.

Rapid economic growth and population expansion in the subcontinent had seen demand for energy and water increase sharply.

The companies said soaring demand had created a lot of growth opportunities for companies in the utilities sector.

“We both recognise the huge potential in the power generation and water market in and around the Asian subcontinent,” Peter Barker-Homek, Taqa chief executive, said in a statement.

Oasis Director Salem Al Neyadi said the pair had identified several projects "that show great potential", without being more specific.

“It is too early to disclose detail," he said.

Taqa and Oasis said any joint venture would be managed on a project by project and that the agreement between the two companies does not include any capital commitments at this stage.

Print | Email | Discuss this article |

USER COMMENTS (0 COMMENTS)

POST A COMMENT

CLICK HERE TO POST A COMMENT

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.