Abu Dhabi National Energy Company PJSC (ADX:TAQA) is looking to double down in India and is evaluating a large exposure in the expansive power businesses of Gautam Adani that span thermal generation to transmission, clean energy and green hydrogen, said people aware of the matter. Abu Dhabi National Energy Company is considering investments of $1.5 billion - $2.5 billion in Gautam Adani's power businesses, including thermal generation, transmission, clean energy, and green hydrogen. At present, TAQA is looking to buy up to 19.9% of Adani Energy Solutions Limited (NSEI:ADANITRANS), originally Adani Transmission Limited, for approximately $2.2 billion at current prices.

Whilst talks have taken place about investing in other Adani Group firms, Adani Energy Solutions reportedly has maximum synergy with TAQA for a strategic alliance.