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The Abu Dhabi Developmental Holding Company — known as ADQ — and the Abu Dhabi National Energy Company — known as TAQA — have entered into an agreement with the Central Asian country’s sovereign wealth fund, Samruk-Kazyna, according to Al-Arabiya.
ADQ Holdings, TAQA and Samruk-Kazyna will explore three new power generation projects in Kazakhstan, including a 2 gigawatt photovoltaic power plant, a 2 GW wind farm, and a 1 GW combined cycle gas power plant.
Both ADQ Holdings and TAQA will own a 51 percent stake in each project, while Samruk-Kazyna will retain the remaining stake.
TAQA will participate in the operations and maintenance of all three projects once they come online, according to a statement issued on Wednesday.
The agreement was signed in the presence of the Prime Minister of the Republic of Kazakhstan Askar Mamin, and Suhail Al-Mazrouei, UAE’s minister of energy and infrastructure, by the CEOs of the three companies involved.
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