Business Services Industry
TAQA to acquire CMS generation and ABB's power generation interests in Morocco and India.
Middle East and North Africa Business Report, February, 2007
Feb. 6--The Abu Dhabi National Energy Company (ADSM: TAQA) has announced the purchase of CMS Generation, a subsidiary of the US integrated energy firm CMS Energy (NYSE: CMS). When finalized, the deal will provide TAQA with an additional 4,300 MW (gross) of generation capacity and further deepen its skills as a best-in-class independent water and power plant (IWPP) developer and operator. The transaction places TAQA in four new countries (Morocco, Saudi Arabia, Ghana and India) where Abu Dhabi has excellent relations and deepens TAQA's interests in two power/water plants in the U.A.E. TAQA intends to further develop its asset base as an upstream, midstream, and downstream energy company.
The sale is subject to the usual government and third party...
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