SWF Radar Taqa

Thomson Reuters reports that, “Abu Dhabi National Energy Co TAQA.AD (Taqa) could delay some of its planned investments if oil prices continue to fall, Chief Executive Peter Barker-Homek said on Thursday.”

Emirates Business 24/7 reports that, “The Abu Dhabi National Energy Company (Taqa), a semi-sovereign wealth fund controlled by the government, is pushing ahead with ambitious plans to lift its investment portfolio by nearly $39 billion (Dh143.24bn) within four years, its chief executive [Peter Barker-Homek] has said.”

That’s the first time I have come across the term “semi-sovereign wealth fund,” and a quick search on Google tells me it’s never before appeared on the web. It just jumped off the page at me, and I think it could be a useful term for describing all the SOEs, demographic reserve funds and similar that are sometimes in some substantial respects not distinguishable from SWFs.

Emirates Business 24/7 reports that, “The Abu Dhabi National Energy Co (Taqa) plans to acquire multiple renewable energy firms as part of plans to make 50 per cent of its operations ‘green’ by 2023.”

MEED reports (subscription required) that, “Abu Dhabi National Energy Company (Taqa) has signed a $3.15bn three-year revolving credit facility at 65 basis points over the London interbank offered rate (libor).”

Gulf Times reports that, “Abu Dhabi National Energy Co (Taqa) plans investments worth $60bn by 2012, a top company executive has said. ‘We aim to attract $60bn of investments by 2012, which means growth of 25% each year,’ Taqa's chief executive officer, Peter Barker-Homek told a conference call.”

In a post on Thursday, Brad Setser suggested that Taqa may now perhaps be considered a sovereign wealth fund. And he quotes Wayne Arnold as writing in The National in July that, “There are at least eight Government-owned or Government-controlled institutions now investing sovereign funds on behalf of Abu Dhabi.”

Thomson Reuters reports that, “Abu Dhabi National Energy Co (Taqa) will invest 750 million pounds sterling ($1.46 billion) over three years to boost oil output from North Sea operations, it said on Thursday.”

Thomson Reuters reports that, “Abu Dhabi National Energy Co TAQA.AD (Taqa) is establishing a $3.5 billion credit facility in Japan to fund acquisitions and is seeking a credit rating there to sell Samurai bonds, Taqa’s chief executive said.”

For those unfamiliar with the term, here is a definition of Samurai bond.

The Daily Mail reports that, “Abu Dhabi’s energy champion [Taqa] is stepping up its acquisition spree in the North Sea as it builds itself into one of the UK’s leading oil businesses.”

Thomson Reuters reports that, “Abu Dhabi National Energy Co (Taqa) said on Monday it had bought northern North Sea equity interests from Shell and ExxonMobil as part of efforts to consolidate its presence in Europe.”

Thomson Financial reports that, “French renewable energy producer Theolia and Abu Dhabi National Energy Company PJSC (TAQA) said they have signed a strategic partnership agreement to work together in the renewable energy sector in Morocco.”