Abu Dhabi’s TAQA agrees for AED200 billion asset swap deal with ADPower

Recently, Abu Dhabi Power Corporation (ADPower), a subsidiary of government-owned Abu Dhabi Development Holding Company PJSC, has received a nod from one of its subsidiaries — Abu Dhabi National Energy Company (TAQA), to transfer majority of ADPower’s electricity generation, transmission and distribution (T&D) and water companies, in return for 106,367,950,000 convertible shares in TAQA, and termination of the land lease agreement between ADPower and TAQA.