Announced
Financials
Sources
Tags
United Arab Emirates
Joint Venture
Private
renewable energy
Friendly
Domestic
Renewable Energy Equipment
Majority
Pending
Acquisition
Single Bidder
Synopsis
Abu Dhabi National Oil Company, a state-owned oil company, and Abu Dhabi National Energy Company, a government controlled energy holding company, agreed to form a global renewable energy and green hydrogen joint venture. Financial terms were not disclosed. “Today’s strategic partnership between two Abu Dhabi energy giants future-proofs ADNOC’s business model, creating compelling business and commercial opportunities, as we fully embrace the energy transition. This innovative and collaborative venture is a bold new initiative, as it combines both companies’ respective areas of expertise and paves the way for our viable entry into the clean energy space. This platform will enable ADNOC to capitalize on the many renewable energy and hydrogen opportunities, both locally and globally," Ahmed Al Jaber, ADNOC Managing Director and Group CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.