Saturday, 21 October 2017 05:33 GMT
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TAQA quits USD1.6b power plant deal with India

(MENAFN) Abu Dhabi National Energy (TAQA) backs off of a USD1.6 billion deal to buy two hydroelectric power plants from Indian Jaiprakash Power Ventures, Gulf Daily News reported.

TAQA told Jaiprakash Power that the decision was due to a change in the group's business strategy and priorities, a blow to the Indian group's efforts to cut its debt.

A senior TAQA official said it was exiting the deal, which was made public in March of the current year, because of, as he put it, "a change in strategy".
TAQA quits USD1.6b power plant deal with India