UAE firms take stakes in Masdar renewables reboot

Taqa, Adnoc and Mubadala acquire interests as state investment firm sets ambitious new renewable and green hydrogen targets

UAE utility Taqa, Abu Dhabi state oil company Adnoc and UAE state investment company Mubadala have taken significant shares in UAE state-owned clean energy firm Masdar. Taqa has acquired the largest stake (43pc) in Masdar’s renewables business, with Mubadala holding 33pc and Adnoc 24pc, while Adnoc has taken the largest stake (43pc) in Masdar’s green hydrogen business, with Mubadala holding 33pc and Taqa 24pc. “Global cooperation is vital to achieving the critical scale in clean energy sources” Mubara, Mubadala The partnership wants to consolidate the renewable energy and green hydrogen efforts of all four companies under a rebooted single Masdar brand. The new Masdar has set a targe