(MENAFN) Abu Dhabi National Energy (TAQA) said it bought a strategic stake in a power plant north of Iraq, Reuters reported.
The state-owned energy and utility firm signed a joint venture agreement with Mass Global Investments Co Ltd for the purchase of 50 percent stake in the power plant, which has been operating since 2009.
The power plant, which is located in Kurdistan Region, has a capacity of 750 megawatts, with an additional 250 megawatts under construction, TAQA said.
TAQA spokesman Allan Virtanen said that the facility receives gas from an underground pipeline connecting the Khor Mor gas field to the plant.
Abu Dhabi-listed TAQA, which invests in oil and gas overseas, also runs power plants in Morocco, Saudi Arabia, Ghana, India and the United States and plans to start oil and gas operations in north Africa.