France's Engie will acquire a 40% stake in Dubai's National Central Cooling Company (Tabreed) to help drive the company's expansion in Egypt, Turkey, and India, Reuters reports. Engie will pay USD 762 mn for the stake in the UAE-based cooling and building infrastructure company. “Tabreed will become one of Engie's main regional development platforms and the company is expected to lead rapid growth for Tabreed in new emerging markets such as India, Egypt and Turkey,” read a statement from Abu Dhabi state investor Mubadala Investment which sold the shares to Engie. Engie is currently operating a number of projects in Egypt, including the a 250 MW wind farm, in addition to E&P assets.

Tags: