(MENAFN - Khaleej Times) Abu Dhabi National Energy Company, or Taqa, on Wednesday said it is buying a 50 per cent stake in a wind power project from a subsidiary of France's EDF in its first such US acquisition.
Taqa will take a 50 per cent interest in the 205.5 megawatt (MW) Lakefield wind project in Jackson County, Minnesota, Taqa said in a statement.
Taqa did not disclose the price of the acquisition, which is expected to close in the first quarter of this year. Under the terms of the agreement, EDF will continue to provide operation, maintenance and related services. Japan's Marubeni holds the remaining 50 per cent in the project.
Etihad Cargo to start service for Guangzhou
Etihad Cargo will inaugurate a new direct weekly freighter operation from Abu Dhabi to the southern Chinese city of Guangzhou, effective January 17.
In a statement issued on Wednesday, the fast growing cargo division of Etihad Airways said the new cargo service will operate every Thursday using an Airbus A330-200F freighter, with a capacity of 68 metric tonnes.
"China is a strategically important market for Etihad Cargo, and the new Guangzhou-Abu Dhabi freighter service will allow us to capitalise on the strong export demand coming out of southern China," Kevin Knight, Etihad Airways chief strategy and planning officer, said.
Guangzhou is the third largest city in China, the capital of the Guangdong province and is a major centre for the manufacturing of electronic goods.
ACC JV gets Dh826 million Lebanon project
An ACC-MATTA joint venture has been awarded an Dh826 million contract by Majid Al Futtaim Properties for the construction of Waterfront City in Lebanon.
The contract covers the enlarged first phase of the unique project that is set to line the Dbayeh Seaside in Lebanon. Waterfront City's enlarged phase one will offer the full promenade experience, with residential, retail, restaurants, amenities and new public spaces.