ADNOC and TAQA to form a joint venture.

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.