Business | Oil & Gas

Taqa to buy 50% stake in US project

The Lakefield wind project consists of 137 GE 1.5 megawatt wind turbines with the capacity to generate 205.5 MW of emissions-free electricity

  • Zawya Dow Jones
  • Published: 17:51 January 9, 2013
  • Gulf News

Abu Dhabi: Abu Dhabi National Energy Co. (Taqa) has agreed to buy a 50% stake in the US-based Lakefield wind project from a subsidiary of France’s Electricite de France SA, it said on Wednesday.

The fully operational Lakefield wind project consists of 137 General Electric 1.5 megawatt wind turbines with the capacity to generate 205.5 MW of emissions-free electricity, Taqa said in an emailed statement. Under the agreement terms, EDF will continue to provide operation, maintenance and related services, the statement added, but didn’t give any financial details. It expects the acquisition to close in the first quarter. “The Lakefield acquisition is a first step in the evolution of TAQA’s global strategy for alternative energy sources,” Saif Al Sayari, Taqa’s executive officer and head of its energy solutions division, said in the statement.

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