Abu Dhabi National Energy Company will develop and finance Indian energy sector projects in partnership with India's Infrastrcuture Leasing and Financial Services (IL&FS).Under the arrangement, the Abu Dhabi company, Taqa, will invest "substantial capital in various power and transmission projects enabling them to come online faster.""Taqa's intention to assume an equity stake in India's rapidly growing energy sector is a natural progression for the company, as we continue to expand and invest outside the Middle East region," Peter Barker-Homek, CEO of Abu Dhabi National Energy Company, said."By working together with IL&FS - India's leader in utilities privatisation modelling - Taqa believes that it is taking the straightest, fastest path to profitability in the Asian subcontinent," he added.Ravi Parthasarathy, chairman of IL&FS, said: "By choosing the right investors, such as Taqa, for our growing number of projects, we are virtually ensuring that the energy demands of our future generations will be met in a way that benefits both our economy and our environment".Taqa is a global energy company with investment capabilities in power generation, desalination, mining, renewables, upstream oil and gas, refining and retailing, pipelines, metals, services, structured finance and the creation, syndication and management of assets.
