Abu Dhabi National Energy Company, or Taqa, has expanded its partnership with Marubeni to include an agreement to share ownership of the Japanese trading company's Caribbean electricity assets. Taqa said it had agreed to buy a 50 per cent stake in a portfolio comprising equity interests in four electrical utilities that operate power plants and transmission lines in Jamaica, the Bahamas, Trinidad and Tobago, and Curaçao. The power plants have a combined generating capacity of 2,300 megawatts.
The company did not provide financial details of the transaction, which is expected to signed by the end of March. "Taqa shares the same outlook on long-term investment as Marubeni and brings solid experience in the power sector and a strong financial position to the joint venture," said Peter Barker-Homek, the chief executive of Taqa. "Together, we have previously delivered successful partnerships in other regions, having jointly invested in power generation and water production globally."
The new investment, which is Taqa's first in the Caribbean, follows previous North American acquisitions by the company, including a US$5 billion (Dh18bn) purchase of Canadian oil and gas assets. In 2007, Marubeni bought a 40 per cent interest in a Taweelah power and water project that Taqa operates. tcarlisle@thenational.ae
Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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- Premier League-standard football pitch
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- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
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Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
SPECS
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