Abu Dhabi’s TAQA denies Adani’s $2.5 bln over investment

Abu Dhabi National Energy Company, also known as TAQA, is not in talks for any investment in the Adani Group’s power businesses, the two entities said in separate statements on Friday.

“The company is not engaged in any discussion with TAQA, for their investment,” power distribution firm Adani Energy Solutions and thermal power producer Adani Power said in exchange filings, while TAQA said news of any investment had “no truth.”

The announcements came hours after India’s Economic Times newspaper reported, citing sources, that TAQA was planning to invest up to $2.5 billion in Adani Group firms, or in a single entity.