Taqa eyes Jordan for potential investment

Abu Dhabi: The Abu Dhabi National Energy Company (Taqa), is eyeing Jordan as a potential country for investment, its chief executive officer said on Monday.

"We are looking at opportunities that exist in the upstream, midstream and downstream segments of business in Jordan," Peter Barker-Homek told reporters on the sidelines of the Abu Dhabi Economic Forum. He didn't elaborate.

Barker-Homek said in the African continent, Taqa is focusing on North Africa for investments.

"We are looking at exploration opportunities in Egypt, Algeria, Libya, Tunisia and Morocco...we have an investment in Ghana, we are not going to divest that asset," he said.

"Sub-Saharan Africa is outside our strategy," said Barker-Homek.

He said Taqa is looking at investments in the Middle East, Europe and North America, in addition to North Africa.

Barker-Homek said Taqa, through its partnership in Saudi Arabia, is looking at developing a 5,000 megawatt power plant in that country.

Barker-Homek had said previously that Taqa aims to become by 2012 a US$60 billion company by assets, from around US$21 billion, now. In 2007, Taqa closed deals worth around $11 billion through six transactions.