Taqa exits India’s lignite power play: Abu Dhabi National Energy Company (Taqa) has fully exited its India 250 MW lignite power plant after selling its 100% stake in Taqa Neyveli Power Company to MEIL Energy, an affiliate of India-based Megha Engineering and Infrastructure, according to a disclosure (pdf). The sale was valued at some AED 387 mn.

Taqa’s going green? The utility is concentrating on low-carbon, flexible gas-fired power generation, along with expanding renewable investments through its stake in Masdar. “This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix,” Taqa’s Generation CEO Farid Al Awlaqi said. The company’s gross clean power generation stands at some 70 GW.

Making moves: Taqa also moved to offload selected assets in Alberta, retaining TPH&Co to advise Taqa North on the divestment.

Taqa began paring down its international footprint in 2022, after completing a strategic review of its oil and gas business, opting to retain its upstream operations with the exception of upstream assets in the Netherlands.

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