TAQA Abandons Plan to Purchase Naturgy Shares as Talks with Criteria Conclude
- Energy Box
- Jun 12, 2024
- 1 min read
According to a presentation from April, Naturgy has 17 GW of installed capacity of which 40% comes from renewable energies such as solar, wind and hydro. It also has a project pipeline that surpasses 19 GW.
Abu Dhabi National Energy Company PJSC (TAQA) will not be acquiring shares in Naturgy Energy Group SA while Criteria Caixa SA will be looking for new options to support the Spanish utility.
The state-controlled energy holding company of Abu Dhabi confirmed in a brief disclosure on Tuesday that discussions on the matter have ended without reaching an agreement.
As unveiled in April, TAQA and CriteriaCaixa, being the main shareholder of the Spanish company, were discussing a potential partnership around Naturgy. TAQA said at the time that it was considering buying the Naturgy shares held by CVC and GIP.
On Monday, CriteriaCaixa disclosed that talks had not led to an agreement but said it continues its commitment to be a long-term investor in Naturgy.
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