Middle East Economic Survey

VOL. LIII

No 20

17-May-2010

UAE

TAQA Negotiating To Take Most Of ADWEAs Stake In Shuweihat-2

Abu Dhabi National Energy Company (TAQA) is negotiating to buy 90% of the Abu Dhabi Water and Electricity Authority (ADWEA) equity stake in the Shuweihat-2 power and water plant. Reports estimate the proposed price at $200-300mn. The purchase will involve TAQAs taking ADWEAs share in Ruwais Power Holding Company, which owns 60% of Shuweihat-2. Added to TAQAs existing interest,...